NEWMONT CORP /DE/, 10-Q filed on 10/26/2023
Quarterly Report
v3.23.3
Cover - shares
 9 Months Ended
Sep. 30, 2023
Oct. 19, 2023
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2023  
Document Transition Report false  
Entity File Number 001-31240  
Entity Registrant Name NEWMONT CORPORATION  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 84-1611629  
Entity Address, Address Line One 6900 E Layton Ave  
Entity Address, City or Town Denver  
Entity Address, State or Province CO  
Entity Address, Postal Zip Code 80237  
City Area Code (303)  
Local Phone Number 863-7414  
Title of 12(b) Security Common stock, par value $1.60 per share  
Trading Symbol NEM  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   794,800,193
Entity Central Index Key 0001164727  
Amendment Flag false  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q3  
Current Fiscal Year End Date --12-31  
v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Sales (Note 4) $ 2,493 $ 2,634 $ 7,855 $ 8,715
Costs and expenses:        
Costs applicable to sales [1] 1,371 1,545 4,396 4,688
Depreciation and amortization 480 508 1,427 1,614
Reclamation and remediation (Note 5) 166 53 298 163
Exploration 78 69 192 169
Advanced projects, research and development 53 80 132 169
General and administrative 70 73 215 210
Other expense, net (Note 6) 37 11 86 68
Total costs and expenses 2,255 2,339 6,746 7,081
Other income (expense):        
Other income (loss), net (Note 7) 42 56 124 (128)
Interest expense, net of capitalized interest (48) (55) (162) (174)
Total other income (expense) (6) 1 (38) (302)
Income (loss) before income and mining tax and other items 232 296 1,071 1,332
Income and mining tax benefit (expense) (Note 8) (73) (96) (449) (343)
Equity income (loss) of affiliates (Note 11) 3 25 44 81
Net income (loss) from continuing operations 162 225 666 1,070
Net income (loss) from discontinued operations 1 (5) 15 19
Net income (loss) 163 220 681 1,089
Net loss (income) attributable to noncontrolling interests (Note 1) (5) (7) (17) (41)
Net income (loss) attributable to Newmont stockholders 158 213 664 1,048
Net income (loss) attributable to Newmont stockholders:        
Continuing operations 157 218 649 1,029
Discontinued operations 1 (5) 15 19
Net income (loss) attributable to Newmont stockholders $ 158 $ 213 $ 664 $ 1,048
Weighted average common shares:        
Basic (in shares) 795 794 795 793
Effect of employee stock-based awards (in shares) 1 1 0 2
Diluted (in shares) 796 795 795 795
Basic:        
Continuing operations (in dollars per share) $ 0.20 $ 0.28 $ 0.82 $ 1.30
Discontinued operations (in dollars per share) 0 (0.01) 0.02 0.02
Net income (loss) per common share, basic (in dollars per share) 0.20 0.27 0.84 1.32
Diluted:        
Continuing operations (in dollars per share) 0.20 0.28 0.82 1.30
Discontinued operations (in dollars per share) 0 (0.01) 0.02 0.02
Net income (loss) per common share, diluted (in dollars per share) $ 0.20 $ 0.27 $ 0.84 $ 1.32
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 163 $ 220 $ 681 $ 1,089
Other comprehensive income (loss):        
Change in marketable securities, net of tax 0 (1) (1) (3)
Foreign currency translation adjustments  6 5 1 6
Change in pension and other post-retirement benefits, net of tax (2) (1) (5) 120
Change in cash flow hedges, net of tax (9) 1 (16) 3
Other comprehensive income (loss) (5) 4 (21) 126
Comprehensive income (loss) 158 224 660 1,215
Comprehensive income (loss) attributable to:        
Newmont stockholders  153 217 643 1,174
Noncontrolling interests 5 7 17 41
Comprehensive income (loss) $ 158 $ 224 $ 660 $ 1,215
v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 3,190 $ 2,877
Time deposits and other investments (Note 11) 24 880
Trade receivables (Note 4) 78 366
Inventories (Note 12) 1,127 979
Stockpiles and ore on leach pads (Note 13) 829 774
Other current assets 707 639
Current assets 5,955 6,515
Property, plant and mine development, net 24,474 24,073
Investments (Note 11) 3,133 3,278
Stockpiles and ore on leach pads (Note 13) 1,740 1,716
Deferred income tax assets 138 173
Goodwill 1,971 1,971
Other non-current assets 673 756
Total assets 38,084 38,482
LIABILITIES    
Accounts payable 651 633
Employee-related benefits 345 399
Income and mining taxes payable 143 199
Lease and other financing obligations 94 96
Other current liabilities (Note 15) 1,575 1,599
Current liabilities 2,808 2,926
Debt (Note 14) 5,575 5,571
Lease and other financing obligations 418 465
Reclamation and remediation liabilities (Note 5) 6,714 6,578
Deferred income tax liabilities 1,696 1,809
Employee-related benefits 397 342
Silver streaming agreement 787 828
Other non-current liabilities (Note 15) 429 430
Total liabilities 18,824 18,949
Commitments and contingencies (Note 18)
EQUITY    
Common stock 1,281 1,279
Treasury stock (263) (239)
Additional paid-in capital 17,425 17,369
Accumulated other comprehensive income (loss) (Note 16) 8 29
Retained earnings (accumulated deficit) 623 916
Newmont stockholders' equity 19,074 19,354
Noncontrolling interests 186 179
Total equity 19,260 19,533
Total liabilities and equity $ 38,084 $ 38,482
v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating activities:        
Net income (loss) $ 163 $ 220 $ 681 $ 1,089
Non-cash adjustments:        
Depreciation and amortization 480 508 1,427 1,614
Net loss (income) from discontinued operations (1) 5 (15) (19)
Reclamation and remediation     287 149
Stock-based compensation     58 57
Change in fair value of investments (Note 7)     42 91
(Gain) loss on asset and investment sales, net (Note 7)     (34) 26
Deferred income taxes     (3) (145)
Charges from pension settlement (Note 7)     0 130
Other non-cash adjustments     37 8
Net change in operating assets and liabilities (Note 17)     (342) (812)
Net cash provided by (used in) operating activities of continuing operations     2,138 2,188
Net cash provided by (used in) operating activities of discontinued operations     9 22
Net cash provided by (used in) operating activities     2,147 2,210
Investing activities:        
Additions to property, plant and mine development  (604) (529) (1,746) (1,485)
Proceeds from maturities of investments     1,355 0
Purchases of investments     (545) (665)
Proceeds from asset and investment sales     219 57
Contributions to equity method investees     (90) (152)
Return of investment from equity method investees     30 52
Other      24 (64)
Net cash provided by (used in) investing activities      (753) (2,257)
Financing activities:        
Dividends paid to common stockholders     (954) (1,310)
Distributions to noncontrolling interests     (107) (140)
Funding from noncontrolling interests     107 89
Payments on lease and other financing obligations     (48) (50)
Payments for withholding of employee taxes related to stock-based compensation     (24) (38)
Acquisition of noncontrolling interests (Note 1)     0 (348)
Repayment of debt     0 (89)
Other     (39) 9
Net cash provided by (used in) financing activities     (1,065) (1,877)
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (9) (29)
Net change in cash, cash equivalents and restricted cash     320 (1,953)
Cash, cash equivalents and restricted cash at beginning of period      2,944 5,093
Cash, cash equivalents and restricted cash at end of period  3,264 3,140 3,264 3,140
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 3,190 3,058 3,190 3,058
Restricted cash included in Other current assets 1 18 1 18
Restricted cash included in Other non-current assets 73 64 73 64
Total cash, cash equivalents and restricted cash $ 3,264 $ 3,140 $ 3,264 $ 3,140
v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings (Accumulated Deficit)
Noncontrolling Interests
Changes in Equity              
Balance at beginning of period (in shares)     (5)        
Balance at beginning of period (in shares) at Dec. 31, 2021   797          
Balance at beginning of period at Dec. 31, 2021 $ 21,813 $ 1,276 $ (200) $ 17,981 $ (133) $ 3,098 $ (209)
Changes in Equity              
Net income (loss) 469         448 21
Other comprehensive income (loss)  121       121    
Dividends declared [1] (439)         (439)  
Distributions declared to noncontrolling interests (59)           (59)
Cash calls requested from noncontrolling interests 30           30
Withholding of employee taxes related to stock-based compensation (in shares)     (1)        
Withholding of employee taxes related to stock-based compensation (36)   $ (36)        
Acquisition of noncontrolling interests (300)     (699)     399
Stock options exercised 14     14      
Stock-based awards and related share issuances (in shares)   2          
Stock-based awards and related share issuances 18 $ 2   16      
Balance at end of period (in shares) at Mar. 31, 2022   799          
Balance at end of period at Mar. 31, 2022 21,631 $ 1,278 (236) 17,312 (12) 3,107 182
Contingently redeemable noncontrolling interest, Balance at beginning of period at Dec. 31, 2021 48            
Contingently Redeemable Noncontrolling Interest              
Reclassification of contingently redeemable noncontrolling interests (Note 1) (48)            
Contingently redeemable noncontrolling interest, Balance at end of period at Mar. 31, 2022 0            
Balance at beginning of period (in shares) at Dec. 31, 2021   797          
Balance at beginning of period at Dec. 31, 2021 21,813 $ 1,276 (200) 17,981 (133) 3,098 (209)
Changes in Equity              
Other comprehensive income (loss)  126            
Balance at end of period (in shares) at Sep. 30, 2022   799          
Balance at end of period at Sep. 30, 2022 21,400 $ 1,279 $ (238) 17,354 (7) 2,831 181
Contingently redeemable noncontrolling interest, Balance at beginning of period at Dec. 31, 2021 48            
Contingently redeemable noncontrolling interest, Balance at end of period at Sep. 30, 2022 0            
Changes in Equity              
Balance at beginning of period (in shares)     (6)        
Balance at beginning of period (in shares) at Mar. 31, 2022   799          
Balance at beginning of period at Mar. 31, 2022 21,631 $ 1,278 $ (236) 17,312 (12) 3,107 182
Changes in Equity              
Net income (loss) 400         387 13
Other comprehensive income (loss)  1       1    
Dividends declared [1] (438)         (438)  
Distributions declared to noncontrolling interests (45)           (45)
Cash calls requested from noncontrolling interests 28           28
Stock-based awards and related share issuances 22     22      
Balance at end of period (in shares) at Jun. 30, 2022   799          
Balance at end of period at Jun. 30, 2022 21,599 $ 1,278 $ (236) 17,334 (11) 3,056 178
Contingently redeemable noncontrolling interest, Balance at beginning of period at Mar. 31, 2022 0            
Contingently redeemable noncontrolling interest, Balance at end of period at Jun. 30, 2022 0            
Changes in Equity              
Balance at beginning of period (in shares)     (6)        
Net income (loss) 220         213 7
Other comprehensive income (loss)  4       4    
Dividends declared [1] (438)         (438)  
Distributions declared to noncontrolling interests (36)           (36)
Cash calls requested from noncontrolling interests 32           32
Withholding of employee taxes related to stock-based compensation (2)   $ (2)        
Stock-based awards and related share issuances (in shares)   0          
Stock-based awards and related share issuances 21 $ 1   20      
Balance at end of period (in shares) at Sep. 30, 2022   799          
Balance at end of period at Sep. 30, 2022 21,400 $ 1,279 $ (238) 17,354 (7) 2,831 181
Contingently redeemable noncontrolling interest, Balance at end of period at Sep. 30, 2022 0            
Changes in Equity              
Balance at beginning of period (in shares)     (6)        
Balance at beginning of period (in shares)     (6)        
Balance at beginning of period (in shares) at Dec. 31, 2022   799          
Balance at beginning of period at Dec. 31, 2022 19,533 $ 1,279 $ (239) 17,369 29 916 179
Changes in Equity              
Net income (loss) 363         351 12
Other comprehensive income (loss)  (6)       (6)    
Dividends declared [2] (319)         (319)  
Distributions declared to noncontrolling interests (40)           (40)
Cash calls requested from noncontrolling interests 31           31
Withholding of employee taxes related to stock-based compensation (in shares)     (1)        
Withholding of employee taxes related to stock-based compensation (22)   $ (22)        
Stock-based awards and related share issuances (in shares)   1          
Stock-based awards and related share issuances 19 $ 2   17      
Balance at end of period (in shares) at Mar. 31, 2023   800          
Balance at end of period at Mar. 31, 2023 19,559 $ 1,281 (261) 17,386 23 948 182
Balance at beginning of period (in shares) at Dec. 31, 2022   799          
Balance at beginning of period at Dec. 31, 2022 19,533 $ 1,279 (239) 17,369 29 916 179
Changes in Equity              
Other comprehensive income (loss)  (21)            
Balance at end of period (in shares) at Sep. 30, 2023   801          
Balance at end of period at Sep. 30, 2023 19,260 $ 1,281 $ (263) 17,425 8 623 186
Changes in Equity              
Balance at beginning of period (in shares)     (7)        
Balance at beginning of period (in shares) at Mar. 31, 2023   800          
Balance at beginning of period at Mar. 31, 2023 19,559 $ 1,281 $ (261) 17,386 23 948 182
Changes in Equity              
Net income (loss) 155         155  
Other comprehensive income (loss)  (10)       (10)    
Dividends declared [2] (318)         (318)  
Distributions declared to noncontrolling interests (26)           (26)
Cash calls requested from noncontrolling interests 34           34
Stock-based awards and related share issuances 21     21      
Balance at end of period (in shares) at Jun. 30, 2023   800          
Balance at end of period at Jun. 30, 2023 19,415 $ 1,281 $ (261) 17,407 13 785 190
Changes in Equity              
Balance at beginning of period (in shares)     (7)        
Net income (loss) 163         158 5
Other comprehensive income (loss)  (5)       (5)    
Dividends declared [2] (320)         (320)  
Distributions declared to noncontrolling interests (41)           (41)
Cash calls requested from noncontrolling interests 32           32
Withholding of employee taxes related to stock-based compensation (2)   $ (2)        
Stock-based awards and related share issuances (in shares)   1          
Stock-based awards and related share issuances 18 $ 0   18      
Balance at end of period (in shares) at Sep. 30, 2023   801          
Balance at end of period at Sep. 30, 2023 $ 19,260 $ 1,281 $ (263) $ 17,425 $ 8 $ 623 $ 186
Changes in Equity              
Balance at beginning of period (in shares)     (7)        
[1] Cash dividends paid per common share were $0.55 and $1.65 for the three and nine months ended September 30, 2022.
[2] Cash dividends paid per common share were $0.40 and $1.20 for the three and nine months ended September 30, 2023, respectively.
v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]        
Cash dividends declared per common share (in dollars per share) $ 0.40 $ 0.55 $ 1.20 $ 1.65
v3.23.3
BASIS OF PRESENTATION
 9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
The interim Condensed Consolidated Financial Statements (“interim statements”) of Newmont Corporation, a Delaware corporation and its subsidiaries (collectively, “Newmont,” “we,” “us,” or the “Company”) are unaudited. In the opinion of management, all normal recurring adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year. These interim statements should be read in conjunction with Newmont’s Consolidated Financial Statements for the year ended December 31, 2022 filed on February 23, 2023 on Form 10-K. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted.
Newcrest transaction
On May 14, 2023 (May 15, 2023 Australian Eastern Daylight Time), the Company and Newmont Overseas Holding Pty Ltd, an Australian proprietary company listed by shares and an indirect wholly owned subsidiary of Newmont ("Newmont Sub"), entered into a binding Scheme Implementation Deed (as amended from time to time, the “Transaction Agreement”) with Newcrest Mining Limited ("Newcrest") to acquire all of the issued and outstanding ordinary shares of Newcrest in a stock transaction, by way of an Australian court-approved Scheme of Arrangement (the “Scheme”, and such acquisition, the “Newcrest Transaction”). Under the terms of the Transaction Agreement, Newcrest shareholders will receive 0.400 of a share of Newmont’s common stock (or 0.400 CHESS Depositary Interests or 0.400 PETS depositary interests, in each case, each one representing a unit of beneficial ownership in Newmont common stock) for each Newcrest common share and a special dividend of $1.10 per share, to be paid by Newcrest prior to the implementation of the Newcrest Transaction.
On October 11, 2023 and October 12, 2023 (October 13, 2023 Australian Eastern Daylight Time), the Newmont and Newcrest shareholders approved the Newcrest Transaction, respectively, which was then subsequently approved by the Australian court on October 16, 2023 (October 17, 2023 Australian Eastern Daylight Time). As previously announced, the transaction has received all of the government and regulatory approvals necessary for the transaction to proceed and is expected to be implemented in November 2023.
Noncontrolling interests
Net loss (income) attributable to noncontrolling interest is comprised of income, primarily related to Suriname Gold project C.V. (“Merian”), of $5 and $7 for the three months ended September 30, 2023 and 2022, respectively, and $17 and $41 for the nine months ended September 30, 2023 and 2022, respectively. Newmont consolidates Merian through its wholly-owned subsidiary, Newmont Suriname LLC., in its Condensed Consolidated Financial Statements as the primary beneficiary of Merian, which is a variable interest entity.
Yanacocha transaction
In February 2022, the Company completed the acquisition of Compañia de Minas Buenaventura S.A.A. (“Buenaventura”) 43.65% noncontrolling interest in Yanacocha for $300 cash consideration, certain royalties on any production from other future potential projects, and contingent payments of up to $100 tied to higher metal prices, achieving commercial production at the Yanacocha Sulfides project and resolution on the outstanding Yanacocha tax dispute. Concurrently, the Company sold its 46.94% ownership interest in Minera La Zanja S.R.L. ("La Zanja") for a $45 loss on sale of its equity interest, included in Other income (loss), net. Additionally, in June 2022, the Company acquired the remaining 5% interest held by Sumitomo in exchange for cash consideration of $48, resulting in the Company obtaining 100% ownership interest in Yanacocha.
v3.23.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Risks and Uncertainties
The Company continues to experience the impacts from geopolitical and macroeconomic pressures. With the resulting volatile environment, the Company continues to monitor inflationary conditions, the effects of certain countermeasures taken by central banks, and the potential for further supply chain disruptions relating to the Russian invasion of Ukraine and the COVID-19 pandemic, as well as an uncertain and evolving labor market.
These factors could have further potential short- and, possibly, long-term material adverse impacts on the Company including, but not limited to, volatility in commodity prices and the prices for gold and other metals, changes in the equity and debt markets or country specific factors adversely impacting discount rates, significant cost inflation impacts on production, capital and asset retirement costs, logistical challenges, workforce interruptions and financial market disruptions, as well as potential impacts to estimated costs and timing of projects.
The Company will continue to monitor and evaluate the potential impacts of the current and ongoing geopolitical and macroeconomic pressures. Depending on the duration and extent of ongoing global developments, these factors could materially impact the Company’s results of operations, cash flows and financial condition and could result in material impairment charges to the
Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; Deferred income tax assets; and Goodwill.
Refer to Note 18 below for further information on risks and uncertainties that could have a potential impact on the Company as well as Note 2 of the Consolidated Financial Statements included in Part II of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023.
In June 2023, the Company announced the deferral of the full-funds investment decision for the Yanacocha Sulfides project in Peru for at least two years to the second half of 2026. The delay of the Yanacocha Sulfides project is intended to focus funds on current operations and other capital commitments while management assesses execution and project options, up to and including transitioning Yanacocha operations into full closure. To the extent that assessment determines that the project is no longer sufficiently profitable or economically feasible under the Company’s internal requirements, it would result in negative modifications to the Company's proven and probable reserves. Additionally, should the Company ultimately decide to forgo the development of Yanacocha Sulfides, the current carrying value of the assets under construction and other long-lived assets of the Yanacocha operations could become impaired and the timing of certain closure activities would be accelerated. As of September 30, 2023, the Yanacocha operations have total long-lived assets of approximately $1,163, inclusive of approximately $822 of assets under construction related to Yanacocha Sulfides. Refer also to the Company's risk factors under the titles "Estimates relating to projects and mine plans of existing operations are uncertain and we may incur higher costs and lower economic returns than estimated” and "Our long-lived assets and goodwill could become impaired, which could have a material non-cash adverse effect on our results of operations” included in Part I of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023, for further information.
Additionally, the Company continues to hold the Conga project in Peru, which we do not currently anticipate developing in the next ten years as we continue to assess Yanacocha Sulfides; accordingly, the Conga project remains in care and maintenance. Should we be unable to develop the Conga project or conclude that future development is not in the best interest of the business, we may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga were $896 at September 30, 2023.
On June 7, 2023, the National Union of Mine and Metal Workers of the Mexican Republic (the "Union") notified the Company of a strike action. In response to the strike notice, the Company suspended operations at Peñasquito. Operations remained suspended throughout the third quarter of 2023. On October 13, 2023, the Company reached a definitive agreement with the Union that also received approval from the Mexican Labor Court. Per the agreement, the Company will pay Peñasquito workers a fixed amount equivalent to approximately 60% of wages for the duration of the strike, and an additional bonus of two months’ wages to be paid out in the second quarter of 2024 if, as a consequence of the strike, the Peñasquito mine reports no profit in 2023. Additionally, as a part of a separate annual negotiation under the Collective Bargaining Agreement, the Company agreed to an annual salary increase of 8% effective as of August 1, 2023, which is in line with the Mexican mining industry wage increases for 2023. Operations at Peñasquito will resume in the fourth quarter of 2023.
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the current year presentation.
Recently Adopted Accounting Pronouncements and Federal Laws
Inflation Reduction Act
In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the "IRA") into law. The IRA introduced an excise tax on stock repurchases of 1% of the fair market value of stock repurchases net of stock issued during the tax year and a corporate alternative minimum tax (the "Corporate AMT") of 15% on the adjusted financial statement income ("AFSI") of corporations with average AFSI exceeding $1 billion over a three-year period. The excise tax on stock repurchases is effective on net stock repurchases made after December 31, 2022 and the Corporate AMT is effective for tax periods beginning in fiscal year 2023. While waiting on pending Department of Treasury regulatory guidance, the Company is continuing to monitor developments. Based upon information known to date, the IRA had no material impact on the Company's current consolidated financial statements and is not expected to have a material impact on future consolidated financial statements, disclosures, or cash flows.
Effects of Reference Rate Reform
In March 2020, ASU No. 2020-04 was issued which provides optional guidance for a limited period of time to ease the potential burden on accounting for contract modifications caused by reference rate reform. In January 2021, ASU No. 2021-01 was
issued which broadened the scope of ASU No. 2020-04 to include certain derivative instruments. In December 2022, ASU No. 2022-06 was issued which deferred the sunset date of ASU No. 2020-04. The guidance is effective for all entities as of March 12, 2020 through December 31, 2024. The guidance may be adopted over time as reference rate reform activities occur and should be applied on a prospective basis. The Company has completed its review of key contracts and does not expect the guidance to have a material impact to the consolidated financial statements or disclosures. The Company will continue to review new contracts to identify references to the LIBOR and implement adequate fallback provisions if not already implemented to mitigate the risks or impacts from the transition.
v3.23.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company regularly reviews its segment reporting for alignment with its strategic goals and operational structure as well as for evaluation of business performance and allocation of resources by Newmont’s Chief Operating Decision Maker ("CODM"). In January 2023, Newmont reassessed and revised its operating strategies and the accountabilities of the senior leadership team in light of the continuing volatile and uncertain market conditions. Following these changes, the Company reevaluated its segments to reflect certain changes in the financial information regularly reviewed by the CODM. As a result, the Company determined that its reportable segments were each of its 12 mining operations and its 38.5% interest in Nevada Gold Mines ("NGM"), which is accounted for using the proportionate consolidation method. Segment results for the prior periods have been recast to reflect the change in reportable segments.
In the following tables, Income (loss) before income and mining tax and other items from reportable segments does not reflect general corporate expenses, interest (except project-specific interest) or income and mining taxes. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. The Company's business activities and operating segments that are not considered reportable, including all equity method investments, are reported in Corporate and Other, which has been provided for reconciliation purposes.
The financial information relating to the Company’s segments is as follows:
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Three Months Ended September 30, 2023
CC&V$87 $57 $6 $4 $17 $21 
Musselwhite92 50 21 2 19 29 
Porcupine118 73 29 5 8 37 
Éléonore
91 63 22 3 3 29 
Peñasquito: (2)(3)
Gold(2)16 12 
Silver5 23 19 
Lead— 7 6 
Zinc(2)18 16 
Total Peñasquito1 64 53 3 (128)9 
Merian160 104 23 9 24 26 
Cerro Negro
124 79 34 3 (1)44 
Yanacocha162 90 27 — 15 81 
Boddington:
Gold350 157 28 
Copper90 50 8 
Total Boddington440 207 36 1 198 54 
Tanami238 81 30 7 157 98 
Ahafo265 133 47 12 82 73 
Akyem135 72 31 6 24 9 
NGM580 298 112 8 151 132 
Corporate and Other— — 9 68 (337)10 
Consolidated$2,493 $1,371 $480 $131 $232 $652 
____________________________
(1)Includes an increase in accrued capital expenditures of $48. Consolidated capital expenditures on a cash basis were $604.
(2)On June 7, 2023, the Company suspended its operations at Peñasquito due to the Union strike. During the strike, Peñasquito continued to incur costs and reported $78 and $53 in Cost applicable to sales and Depreciation and amortization, respectively, related to continued costs. Additionally, Cost applicable to sales includes adjustments to the profit-sharing agreement accrual for the current period. On October 13, 2023, the Company reached an agreement with the Union and operations at Peñasquito are expected to resume in the fourth quarter of 2023. Refer to Note 2 for further information.
(3)Sales activity recognized in the third quarter of 2023 is related to adjustments on provisionally priced concentrate sales subject to final settlement.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Three Months Ended September 30, 2022
CC&V$81 $64 $19 $3 $(9)$12 
Musselwhite74 47 19 2 7 15 
Porcupine127 72 26 4 31 36 
Éléonore94 64 28 — 7 19 
Peñasquito:
Gold228 109 38 
Silver105 85 29 
Lead26 15 5 
Zinc105 64 19 
Total Peñasquito464 273 91 5 89 44 
Merian145 89 19 8 31 13 
Cerro Negro
114 71 32 8 (8)36 
Yanacocha90 74 21 5 (39)112 
Boddington:
Gold283 148 28 
Copper48 36 7 
Total Boddington331 184 35 1 121 23 
Tanami220 81 26 8 122 78 
Ahafo263 155 43 7 59 52 
Akyem174 77 32 4 58 7 
NGM457 294 109 9 49 75 
Corporate and Other— — 8 85 (222)13 
Consolidated$2,634 $1,545 $508 $149 $296 $535 
____________________________
(1)Includes an increase in accrued capital expenditures of $6. Consolidated capital expenditures on a cash basis were $529.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Nine Months Ended September 30, 2023
CC&V$260 $157 $19 $10 $65 $44 
Musselwhite255 163 58 7 23 74 
Porcupine366 220 85 15 35 95 
Éléonore (2)
320 212 73 6 27 74 
Peñasquito: (3)
Gold203 123 47 
Silver246 200 78 
Lead64 62 25 
Zinc180 194 70 
Total Peñasquito693 579 220 9 (163)81 
Merian423 269 56 17 80 61 
Cerro Negro
340 232 99 6 (25)118 
Yanacocha394 225 65 9 6 209 
Boddington:
Gold1,125 483 83 
Copper282 151 26 
Total Boddington1,407 634 109 4 657 128 
Tanami605 244 80 20 297 287 
Ahafo777 384 128 28 244 240 
Akyem381 189 86 14 85 31 
NGM1,634 888 323 25 376 339 
Corporate and Other— — 26 154 (636)37 
Consolidated$7,855 $4,396 $1,427 $324 $1,071 $1,818 
____________________________
(1)Includes an increase in prepaid capital expenditures and accrued capital expenditures of $72. Consolidated capital expenditures on a cash basis were $1,746.
(2)In June 2023, the Company evacuated Éléonore and temporarily shut down the operation in response to the wildfires in Canada. During the temporary shutdown, the Company continued to incur costs and reported $6 and $2 in Cost applicable to sales and Depreciation and amortization, respectively. Operations were fully resumed during the third quarter of 2023.
(3)On June 7, 2023, the Company suspended its operations at Peñasquito due to the Union strike. During the strike, Peñasquito continued to incur costs and reported $101 and $68 in Cost applicable to sales and Depreciation and amortization, respectively, related to continued costs. Additionally, Cost applicable to sales includes adjustments to the profit-sharing agreement accrual for the current period. On October 13, 2023, the Company reached an agreement with the Union and operations at Peñasquito are expected to resume in the fourth quarter of 2023. Refer to Note 2 for further information.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Nine Months Ended September 30, 2022
CC&V$234 $165 $51 $7 $(6)$30 
Musselwhite207 143 55 5 4 33 
Porcupine366 209 73 11 76 112 
Éléonore275 197 84 1 (7)42 
Peñasquito: (2)
Gold710 323 111 
Silver401 337 115 
Lead98 66 23 
Zinc407 244 76 
Total Peñasquito1,616 970 325 16 286 132 
Merian518 270 61 17 170 37 
Cerro Negro
381 205 113 15 15 96 
Yanacocha345 214 67 11 (26)258 
Boddington:
Gold1,093 491 89 
Copper223 131 24 
Total Boddington1,316 622 113 4 599 58 
Tanami655 230 74 21 353 256 
Ahafo718 390 116 18 201 189 
Akyem546 220 95 12 214 27 
NGM1,538 853 361 24 293 213 
Corporate and Other— — 26 176 (840)35 
Consolidated$8,715 $4,688 $1,614 $338 $1,332 $1,518 
____________________________
(1)Includes an increase in accrued capital expenditures of $33; consolidated capital expenditures on a cash basis were $1,485.
(2)Costs applicable to sales includes amounts resulting from the profit-sharing agreement completed with the Peñasquito workforce during the second quarter of 2022. Under the agreement, the Company agreed to pay its workforce an uncapped profit-sharing bonus each year, based on the agreed upon terms. Additionally, the terms of the agreement are retroactively applied to profit-sharing related to 2021 site performance, resulting in $70 recorded within Costs applicable to sales in the second quarter of 2022. The amounts related to the 2021 profit-sharing were paid in the third quarter of 2022.
v3.23.3
SALES
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
SALES SALES
The following tables present the Company’s Sales by mining operation, product and inventory type:
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Three Months Ended September 30, 2023
CC&V$87 $— $87 
Musselwhite 92 — 92 
Porcupine 118 — 118 
Éléonore 91 — 91 
Peñasquito: (1)
Gold— (2)(2)
Silver (2)
— 5 5 
Lead— — — 
Zinc— (2)(2)
Total Peñasquito— 1 1 
Merian160 — 160 
Cerro Negro 124 — 124 
Yanacocha162 — 162 
Boddington:
Gold86 264 350 
Copper— 90 90 
Total Boddington86 354 440 
Tanami238 — 238 
Ahafo265 — 265 
Akyem135 — 135 
NGM (3)
559 21 580 
Consolidated$2,117 $376 $2,493 
____________________________
(1)Sales activity recognized in the third quarter of 2023 is related to adjustments on provisionally priced concentrate sales subject to final settlement.
(2)No amortization of the silver streaming agreement liability was recognized in the third quarter of 2023 within sales from concentrate and other production due to the suspended operations at Peñasquito.
(3)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $556 for the three months ended September 30, 2023.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Three Months Ended September 30, 2022
CC&V$81 $— $81 
Musselwhite 74 — 74 
Porcupine 127 — 127 
Éléonore 94 — 94 
Peñasquito:
Gold23 205 228 
Silver (1)
— 105 105 
Lead— 26 26 
Zinc— 105 105 
Total Peñasquito23 441 464 
Merian145 — 145 
Cerro Negro 114 — 114 
Yanacocha90 — 90 
Boddington:
Gold78 205 283 
Copper— 48 48 
Total Boddington78 253 331 
Tanami220 — 220 
Ahafo263 — 263 
Akyem174 — 174 
NGM (2)
439 18 457 
Consolidated$1,922 $712 $2,634 
____________________________
(1)Silver sales from concentrate includes $17 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $434 for the three months ended September 30, 2022.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Nine Months Ended September 30, 2023
CC&V$260 $— $260 
Musselwhite 255 — 255 
Porcupine 366 — 366 
Éléonore 320 — 320 
Peñasquito:
Gold34 169 203 
Silver (1)
— 246 246 
Lead— 64 64 
Zinc— 180 180 
Total Peñasquito34 659 693 
Merian423 — 423 
Cerro Negro 340 — 340 
Yanacocha386 8 394 
Boddington:
Gold279 846 1,125 
Copper— 282 282 
Total Boddington279 1,128 1,407 
Tanami605 — 605 
Ahafo777 — 777 
Akyem381 — 381 
NGM (2)
1,571 63 1,634 
Consolidated$5,997 $1,858 $7,855 
____________________________
(1)Silver sales from concentrate includes $31 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $1,568 for the nine months ended September 30, 2023.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Nine Months Ended September 30, 2022
CC&V$229 $5 $234 
Musselwhite 207 — 207 
Porcupine 366 — 366 
Éléonore 275 — 275 
Peñasquito:
Gold79 631 710 
Silver (1)
— 401 401 
Lead— 98 98 
Zinc— 407 407 
Total Peñasquito79 1,537 1,616 
Merian518 — 518 
Cerro Negro 381 — 381 
Yanacocha346 (1)345 
Boddington:
Gold276 817 1,093 
Copper— 223 223 
Total Boddington276 1,040 1,316 
Tanami655 — 655 
Ahafo718 — 718 
Akyem546 — 546 
NGM (2)
1,489 49 1,538 
Consolidated$6,085 $2,630 $8,715 
____________________________
(1)Silver sales from concentrate includes $56 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $1,485 for the nine months ended September 30, 2022.
Trade Receivables and Provisional Sales
At September 30, 2023 and December 31, 2022, Trade receivables primarily consisted of sales from provisionally priced concentrate and other production. There was no impact to Sales from changes in pricing on provisional sales for the three and nine months ended September 30, 2023. The impact to Sales from changes in pricing on provisional sales was a decrease of $39 and $86 for the three and nine months ended September 30, 2022, respectively.
At September 30, 2023, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
GoldCopperSilverLeadZinc
(ounces,
in thousands)		(pounds,
in millions)		(ounces,
in thousands)		(pounds,
in millions)		(pounds,
in millions)
Provisionally priced sales subject to final pricing (1)
76 34 48 — 10 
Average provisional price, per measure$1,851 $3.75 $22.22 $— $1.20 
____________________________
(1)Includes provisionally priced by-product sales subject to final pricing, which are recognized in Costs applicable to sales.
v3.23.3
RECLAMATION AND REMEDIATION
 9 Months Ended
Sep. 30, 2023
Environmental Remediation Obligations [Abstract]  
RECLAMATION AND REMEDIATION RECLAMATION AND REMEDIATIONThe Company’s mining and exploration activities are subject to various domestic and international laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation and remediation costs are based principally on current legal and regulatory requirements.
The Company’s Reclamation and remediation expense consisted of:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Reclamation adjustments and other$53 $7 $61 $9 
Reclamation accretion60 43 179 129 
Reclamation expense113 50 240 138 
Remediation adjustments and other51 1 52 20 
Remediation accretion2 2 6 5 
Remediation expense53 3 58 25 
Reclamation and remediation$166 $53 $298 $163 
The following are reconciliations of Reclamation and remediation liabilities:
Reclamation (1)
Remediation (2)
2023202220232022
Balance at January 1,$6,731 $5,768 $373 $344 
Additions, changes in estimates and other75 9 45 13 
Payments, net(163)(128)(28)(42)
Accretion expense 179 129 6 5 
Balance at September 30,
$6,822 $5,778 $396 $320 
____________________________
(1)The $75 addition for the nine months ended September 30, 2023 was primarily due to increased labor and post-closure maintenance costs, and higher estimated costs arising from recent tailings management review and monitoring requirements set forth by GISTM at non-operating portions of the Porcupine site operation, and higher estimated closure costs at NGM due to GISTM compliance at Phoenix.
(2)The $45 addition for the nine months ended September 30, 2023 was primarily due to higher water management costs and project execution delays at Midnite Mine. The $13 addition for the nine months ended September 30, 2022 was due to expected higher waste disposal costs at Midnite Mine.

At September 30, 2023At December 31, 2022
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$460 $44 $504 $482 $44 $526 
Non-current (2)
6,362 352 6,714 6,249 329 6,578 
Total (3)
$6,822 $396 $7,218 $6,731 $373 $7,104 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(3)Total reclamation liabilities include $3,685 and $3,722 related to Yanacocha at September 30, 2023 and December 31, 2022, respectively.
The Company is also involved in several matters concerning environmental remediation obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. The amounts accrued are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are recorded in Other current liabilities and Reclamation and remediation liabilities in the period estimates are revised.
Included in Other non-current assets at September 30, 2023 and December 31, 2022 are $66 and $62, respectively, of non-current restricted cash held for purposes of settling reclamation and remediation obligations. The amounts at September 30, 2023 and December 31, 2022 primarily relate to Ahafo and Akyem.
Included in Other non-current assets at September 30, 2023 and December 31, 2022 are $29 and $35, respectively, of non-current restricted investments, which are legally pledged for purposes of settling reclamation and remediation obligations. The amounts at September 30, 2023 and December 31, 2022 primarily relate to San Jose Reservoir at Yanacocha.
Refer to Note 18 for further discussion of reclamation and remediation matters.
v3.23.3
OTHER EXPENSE, NET
 9 Months Ended
Sep. 30, 2023
Operating Costs and Expenses [Abstract]  
OTHER EXPENSE, NET OTHER EXPENSE, NET
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Newcrest transaction-related costs (1)
$16 $— $37 $— 
Restructuring and severance7 2 19 3 
Impairment charges2 1 10 3 
Settlement costs2 2 2 20 
COVID-19 specific costs (2)
— 6 — 33 
Other10 — 18 9 
Other expense, net$37 $11 $86 $68 
____________________________
(1)Represents costs incurred related to the Newcrest Transaction in 2023. Refer to Note 1 for further information.
(2)Beginning January 1, 2023, COVID-19 specific costs incurred in the ordinary course of business are recognized in Costs applicable to sales.
v3.23.3
OTHER INCOME (LOSS), NET
 9 Months Ended
Sep. 30, 2023
Other Income, Nonoperating [Abstract]  
OTHER INCOME (LOSS), NET OTHER INCOME (LOSS), NET
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Interest income$35 $27 $108 $43 
Change in fair value of investments(41)5 (42)(91)
Insurance proceeds (1)
37 — 37 8 
Gain (loss) on asset and investment sales, net (2)
(2)9 34 (26)
Foreign currency exchange, net10 10 (12)38 
Pension settlement (3)
— — — (130)
Other3 5 (1)30 
Other income (loss), net$42 $56 $124 $(128)
____________________________
(1)Primarily relates to insurance proceeds received by the Company in the third quarter of 2023 of $45 and $11 related to Tanami due to significant rainfall and flooding in early 2023 and a conveyor failure at Ahafo, respectively. Of these amounts, $31 and $6, respectively, were recognized in Other income (loss), net, and primarily relate to business interruption coverage. The remaining amounts were recognized within Costs applicable to sales.
(2)For the nine months ended September 30, 2023, primarily consists of the gain recognized on the exchange of the previously held Maverix Metals, Inc. ("Maverix") investment for the Triple Flag Precious Metals Corporation ("Triple Flag") investment in January 2023, partially offset by the loss on the sale of the Triple Flag investment in March 2023. Refer to Note 11 for further information. For the nine months ended September 30, 2022, primarily consists of the loss recognized on the sale of the La Zanja equity method investment partially offset by a gain on the sale of a royalty held at NGM. Refer to Note 1 for further information.
(3)Primarily relates to the non-cash pension settlement charges of $130 resulting from the Company executing an annuitization to transfer a portion of the pension plan obligations from the Company's U.S. qualified defined benefit pension plans to an insurance company using plan assets during the first quarter of 2022.
v3.23.3
INCOME AND MINING TAXES
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate follows:
Three Months Ended
September 30, (1)
Nine Months Ended
September 30, (1)
2023202220232022
Income (loss) before income and mining tax and other items$232 $296 $1,071 $1,332 
U.S. federal statutory tax rate21 %$49 21 %$61 21 %$225 21 %$279 
Reconciling items:
Percentage depletion(6)(13)(4)(13)(4)(40)(3)(43)
Change in valuation allowance on deferred tax assets30 69 6 19 12 126 

5 68 
Foreign rate differential6 13 10 29 8 88 11 148 
Effect of foreign earnings, net of credits6 13 — 1 2 25 2 20 
Mining and other taxes (net of associated federal benefit)4 9 5 16 5 58 6 75 
Tax impact of foreign exchange (32)(72)(7)(22)(5)(52)(4)(48)
Mexico Tax Settlement (2)
— — — — — — (9)(125)
Other2 5 2 5 3 19 (3)(31)
Income and mining tax expense (benefit)31 %$73 33 %$96 42 %$449 26 %$343 
____________________________
(1)Tax rates may not recalculate due to rounding.
(2)Following the framework established with the Mexican Tax Authority in the fourth quarter of 2021, a full settlement was entered into during the second quarter of 2022, which resulted in a net tax benefit of $125, primarily consisting of a reduction in the related uncertain tax position of $95.
v3.23.3
FAIR VALUE ACCOUNTING
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
FAIR VALUE ACCOUNTING FAIR VALUE ACCOUNTING
The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) or nonrecurring basis by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Refer to Note 13 of the Consolidated Financial Statements included in Part II of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023 for further information on the Company's assets and liabilities included in the fair value hierarchy presented below.
Fair Value at September 30, 2023
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,190 $3,190 $— $— 
Restricted cash74 74 — — 
Trade receivable from provisional sales, net 78 — 78 — 
Marketable equity securities (Note 11)
213 207 6 — 
Restricted marketable debt securities (Note 11)
21 20 1 — 
Restricted other assets (Note 11)
8 8 — — 
Contingent consideration assets (Note 10)
195 — — 195 
$3,779 $3,499 $85 $195 
Liabilities:
Debt (2)
$4,981 $— $4,981 $— 
Contingent consideration liabilities (Note 10)
5 — — 5 
Derivative liabilities (Note 10)
13 — 13 — 
$4,999 $— $4,994 $5 
Fair Value at December 31, 2022
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$2,877 $2,877 $— $— 
Restricted cash67 67 — — 
Time deposits and other (Note 11)
846 — 846 — 
Trade receivable from provisional sales, net 364 — 364 — 
Long-lived assets25 — — 25 
Marketable equity securities (Note 11)
260 250 10 — 
Restricted marketable debt securities (Note 11)
27 23 4 — 
Restricted other assets (Note 11)
8 8 — — 
Contingent consideration assets (Note 10)
188 — — 188 
Derivative assets (Note 10)
20 — 20 — 
$4,682 $3,225 $1,244 $213 
Liabilities:
Debt (2)
$5,136 $— $5,136 $— 
Contingent consideration liabilities (Note 10)
3 — — 3 
$5,139 $— $5,136 $3 
____________________________
(1)Cash and cash equivalents include time deposits that have an original maturity of three months or less.
(2)Debt is carried at amortized cost. The outstanding carrying value was $5,575 and $5,571 at September 30, 2023 and December 31, 2022, respectively. Refer to Note 14 for further information. The fair value measurement of debt was based on an independent third-party pricing source.
The following tables set forth a summary of the quantitative and qualitative information related to the significant observable and unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at September 30, 2023 and December 31, 2022:
DescriptionAt September 30, 2023Valuation TechniqueSignificant InputRange, Point Estimate or Average
Contingent consideration assets$195 
Monte Carlo (1)
Discount rate (2)
8.76 - 29.59
%
Contingent consideration liabilities$5 Discounted cash flow
Discount rate (2)
5.56 - 7.08
%
DescriptionAt December 31, 2022Valuation TechniqueSignificant InputRange, Point Estimate or Average
Long-lived assets$25 Market-based approach
Various (3)
Various (3)
Contingent consideration assets$188 
Monte Carlo (1)
Discount rate (2)
8.75 - 29.59
%
Contingent consideration liabilities$3 Discounted cash flow
Discount rate (2)
5.56 - 7.08
%
____________________________
(1)A Monte Carlo valuation model is used for the fair value measurement of the Batu Hijau contingent consideration asset. All other contingent consideration assets are valued using a probability-weighted discounted cash flow where the significant input is the discount rate.
(2)The weighted average discount rate used to calculate the Company’s contingent consideration assets and liabilities is 11.87% and 6.47%, respectively, at September 30, 2023 and 11.86% and 6.07%, respectively, at December 31, 2022. Various other inputs including, but not limited to, metal prices and production profiles were considered in determining the fair value of the individual contingent consideration assets and liabilities.
(3)At December 31, 2022, the Company recognized an impairment charge on the long-lived assets at CC&V, which resulted in a remaining long-lived asset balance of $25. The impairment was determined using the income approach and included the following significant inputs (i) updated cash flow information from the Company's business and closure plans at December 31, 2022, (ii) a short-term gold price of $1,750, (iii) a long-term gold price of $1,600, (iv) current estimates of reserves, resources, and exploration potential, and (v) a country specific pre-tax discount rate of 6.75%. The Company performed a nonrecurring fair value measurement and estimated the fair value of the remaining asset balance using a market-based approach based on the appraised value in an assumed sale to a third-party market participant.
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Contingent Consideration
Assets (1)
Total Assets
Contingent Consideration Liabilities (2)
Total Liabilities
Fair value at December 31, 2022$188 $188 $3 $3 
Revaluation7 7 2 2 
Fair value at September 30, 2023$195 $195 $5 $5 
Contingent Consideration
Assets (1)
Total AssetsContingent consideration liabilitiesTotal liabilities
Fair value at December 31, 2021$171 $171 $5 $5 
Revaluation(2)(2)— — 
Fair value at September 30, 2022$169 $169 $5 $5 
____________________________
(1)In 2023, the (loss) gain recognized on revaluation of contingent consideration assets of $(2) and $9 is included in Other income (loss), net and Net income (loss) from discontinued operations, respectively. In 2022, the (loss) gain recognized on revaluation contingent consideration assets of $(6) and $4 is included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
(2)In 2023, the loss recognized on revaluation of contingent consideration liabilities is included in Other income (loss), net.
v3.23.3
DERIVATIVES INSTRUMENTS
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS DERIVATIVES INSTRUMENTS
Hedging Instruments
In May 2023, the Company entered into C$348 of CAD-denominated and A$648 of AUD-denominated fixed forward contracts to mitigate variability in the USD functional cash flows related to the CAD-denominated and AUD-denominated operating expenditures expected to be incurred between June and December 2023 included in the Company's operating mines located in Canada and Australia, respectively. The fixed forward contracts were transacted for risk management purposes. The Company has designated the CAD-denominated and AUD-denominated fixed forward contracts as foreign currency cash flow hedges against the forecasted CAD-denominated and AUD-denominated operating expenditures, respectively.
In October 2022, the Company entered into A$574 of AUD-denominated fixed forward contracts to mitigate variability in the USD functional cash flows related to the AUD-denominated capital expenditures expected to be incurred in 2023 and 2024 during the construction and development phase of the Tanami Expansion 2 project. The fixed forward contracts were transacted for risk management purposes. The Company has designated the fixed forward contracts as foreign currency cash flow hedges against the forecasted AUD-denominated Tanami Expansion 2 capital expenditures.
To minimize credit risk, the Company only enters into transactions with counterparties that meet certain credit requirements and periodically reviews the creditworthiness of these counterparties. The Company believes that the risk of counterparty default is low and its exposure to credit risk is minimal. The unrealized changes in fair value have been recorded in Accumulated other comprehensive income (loss) and are reclassified to income during the period in which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. If the underlying hedge transaction becomes probable of not occurring, the related amounts will be reclassified to earnings immediately. For the foreign currency cash flow hedges related to the Tanami Expansion 2 project, amounts recorded in Accumulated other comprehensive income (loss) will be reclassified to earnings through Depreciation and amortization after the project reaches commercial production. For the foreign currency cash flow hedges related to the CAD-denominated and AUD-denominated operating expenditures, amounts recorded in Accumulated other comprehensive income (loss) will be reclassified to earnings through Costs applicable to sales in the month that the operating expenditures are incurred.
The following table provides the fair value of the Company’s derivative instruments designated as cash flow hedges:
At September 30,
2023		At December 31,
2022
Derivative assets:
Foreign currency cash flow hedges, current (1)
$— $12 
Foreign currency cash flow hedges, non-current (2)
— 8 
$— $20 
Derivative liabilities:
Foreign currency cash flow hedges, current (3)
$13 $— 
$13 $— 
____________________________
(1)Included in Other current assets in the Company’s Condensed Consolidated Balance Sheets.
(2)Included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.
(3)Included in Other current liabilities in the Company’s Condensed Consolidated Balance Sheets.
The following table provides the losses (gains) recognized in earnings related to the Company's derivative instruments:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Loss (gain) on cash flow hedges:
Foreign currency cash flow hedges (1)
$6 $— $8 $— 
Interest rate contracts (2)
2 1 4 3 
$8 $1 $12 $3 
____________________________
(1)Foreign currency cash flow hedges relate to contracts entered into, and subsequently settled, to mitigate the variability of CAD and AUD denominated operating expenditures. The amounts are reclassified out of Accumulated other comprehensive income (loss) into earnings in the month that the operating expenditures are incurred. The losses (gains) recognized in earnings are included in Costs applicable to sales in the Company’s Condensed Consolidated Statement of Operations.
(2)Interest rate contracts relate to swaps entered into, and subsequently settled, associated with the issuance of certain senior notes. The related gains and losses are reclassified from Accumulated Other Comprehensive Income (Loss) and amortized to Interest expense, net over the term of the respective hedged notes.
Contingent consideration assets and liabilities are comprised of contingent consideration to be received or paid by the Company in conjunction with various sales of assets and investments with future payment contingent upon meeting certain milestones. These contingent consideration assets and liabilities are accounted for at fair value and consist of financial instruments that meet the definition of a derivative but are not designated for hedge accounting under ASC 815. Refer to Note 9 for further information regarding the fair value of the contingent consideration assets and liabilities.
The Company had the following contingent consideration assets and liabilities:
At September 30,
2023		At December 31,
2022
Contingent consideration assets:
Batu Hijau and Elang (1)
$148 $139 
Red Lake (2)
37 39 
Cerro Blanco (2)
5 5 
Triple Flag (previously Maverix) (2)(3)
4 4 
Other (2)
1 1 
$195 $188 
Contingent consideration liabilities: (4)
Norte Abierto$3 $1 
Galore Creek2 2 
$5 $3 
____________________________
(1)At September 30, 2023, $70 is included in Other current assets and $78 is included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets. At December 31, 2022, $139 is included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.
(2)Included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.
(3)In January 2023, Triple Flag acquired all of the issued and outstanding common shares of Maverix. Refer to Note 11 for further information.
(4)Included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheets.
v3.23.3
INVESTMENTS
 9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
At September 30,
2023		At December 31,
2022
Time deposits and other investments:
Time deposits and other (1)
$— $846 
Marketable equity securities24 34 
$24 $880 
Non-current investments:
Marketable equity securities$189 $226 
Equity method investments: 
Pueblo Viejo Mine (40.0%)
$1,462 $1,435 
NuevaUnión Project (50.0%)
958 956 
Norte Abierto Project (50.0%)
524 518 
Maverix Metals, Inc. (—% and 28.5%, respectively) (2)
— 143 
2,944 3,052 
$3,133 $3,278 
Non-current restricted investments: (3)
Marketable debt securities$21 $27 
Other assets8 8 
$29 $35 
____________________________
(1)At December 31, 2022, Time deposits and other primarily includes time deposits with an original maturity of more than three months but less than one year of $829 and related accrued interest of $9. All time deposits with an original maturity of more than three months but less than one year matured as of September 30, 2023.
(2)In January 2023, Maverix was fully acquired by Triple Flag. The Company's ownership interest in the newly combined company was subsequently sold in March 2023. Refer to "Maverix Metals, Inc." below for further information.
(3)Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. Refer to Note 5 for further information regarding these amounts.
Equity method investments
Income (loss) from the Company's equity method investments is recognized in Equity income (loss) of affiliates, which primarily consists of income from the Pueblo Viejo mine of $10 and $26 for the three months ended September 30, 2023 and 2022, respectively, and $46 and $84 for the nine months ended September 30, 2023 and 2022, respectively. Income from the Pueblo Viejo mine was lower in 2023 compared to 2022 primarily due to lower ore grades processed due to mine sequencing, as well as lower mill throughput and lower mill recovery associated with the commissioning of the mill expansion project.
Pueblo Viejo
As of September 30, 2023 and December 31, 2022, the Company had outstanding shareholder loans to Pueblo Viejo of $403 and $356, with accrued interest of $5 and $8, respectively, included in the Pueblo Viejo equity method investment. Additionally, the Company has an unfunded commitment to Pueblo Viejo in the form of a revolving loan facility ("Revolving Facility"). There were no borrowings outstanding under the Revolving Facility as of September 30, 2023.
The Company purchases its portion (40%) of gold and silver produced from Pueblo Viejo at market price and resells those ounces to third parties. Total payments made to Pueblo Viejo for gold and silver purchased were $105 and $326 for the three and nine months ended September 30, 2023, respectively. Total payments made to Pueblo Viejo for gold and silver purchased were $146 and $413 for the three and nine months ended September 30, 2022, respectively. These purchases, net of subsequent sales, are included in Other income (loss), net and the net amount is immaterial. There were no amounts due to or from Pueblo Viejo for gold and silver purchases as of September 30, 2023 or December 31, 2022.
Maverix Metals, Inc.
In January 2023, Triple Flag acquired all of the issued and outstanding common shares of Maverix, resulting in Newmont holding a 7.5% ownership interest in the combined company. Prior to close, Newmont held 28.5% of Maverix’s outstanding common shares. In the first quarter of 2023, the Company sold all of its common shares in Triple Flag. As a result, a net gain of $36 was recognized in the first quarter of 2023, which is included in Other income, net in the Condensed Consolidated Statement of Operations.
In the second quarter of 2023, the Company exercised all of its warrants held in Triple Flag and sold all of the underlying shares, resulting in an immaterial gain.
v3.23.3
INVENTORIES
 9 Months Ended
Sep. 30, 2023
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
At September 30,
2023		At December 31,
2022
Materials and supplies$830 $750 
In-process146 123 
Concentrate79 47 
Precious metals72 59 
Inventories$1,127 $979 
STOCKPILES AND ORE ON LEACH PADS
At September 30, 2023At December 31, 2022
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$574 $255 $829 $480 $294 $774 
Non-current1,338 402 1,740 1,391 325 1,716 
Total$1,912 $657 $2,569 $1,871 $619 $2,490 
v3.23.3
STOCKPILES AND ORE ON LEACH PADS
 9 Months Ended
Sep. 30, 2023
STOCKPILES AND ORE ON LEACH PADS  
STOCKPILES AND ORE ON LEACH PADS INVENTORIES
At September 30,
2023		At December 31,
2022
Materials and supplies$830 $750 
In-process146 123 
Concentrate79 47 
Precious metals72 59 
Inventories$1,127 $979 
STOCKPILES AND ORE ON LEACH PADS
At September 30, 2023At December 31, 2022
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$574 $255 $829 $480 $294 $774 
Non-current1,338 402 1,740 1,391 325 1,716 
Total$1,912 $657 $2,569 $1,871 $619 $2,490 
v3.23.3
DEBT
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
DEBT DEBT
Scheduled minimum debt repayments are as follows:
At September 30,
2023
Year Ending December 31,
2023 (for the remainder of 2023)
$— 
2024— 
2025— 
2026— 
2027— 
Thereafter5,624 
Total face value of debt5,624 
Unamortized premiums, discounts, and issuance costs(49)
Debt$5,575 
v3.23.3
OTHER LIABILITIES
 9 Months Ended
Sep. 30, 2023
Other Liabilities Disclosure [Abstract]  
OTHER LIABILITIES OTHER LIABILITIES
At September 30,
2023		At December 31,
2022
Other current liabilities:
Reclamation and remediation liabilities$504 $526 
Accrued capital expenditures276 221 
Accrued operating costs266 370 
Payables to NGM (1)
69 73 
Other (2)
460 409 
$1,575 $1,599 
Other non-current liabilities:
Income and mining taxes (3)
$224 $206 
Other (4)
205 224 
$429 $430 
_________________________
(1)Primarily consists of amounts due to NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are included in Other current assets.
(2)Primarily consists of accrued royalties, the current portion of the silver streaming agreement liability, and accrued interest on debt.
(3)Primarily consists of unrecognized tax benefits, including penalties and interest.(4)Primarily consists of the non-current portion of the Norte Abierto deferred payments and operating lease liabilities.
v3.23.3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​
 9 Months Ended
Sep. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized Gain (Loss) on Investment Securities, netForeign Currency Translation AdjustmentsPension and Other Post-retirement Benefit AdjustmentsUnrealized Gain (Loss) on Hedge InstrumentsTotal
Balance at December 31, 2022$(1)$126 $(27)$(69)$29 
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications(1)1 1 (25)(24)
(Gain) loss reclassified from accumulated other comprehensive income (loss)
— — (6)9 3 
Other comprehensive income (loss)(1)1 (5)(16)(21)
Balance at September 30, 2023$(2)$127 $(32)$(85)$8 
v3.23.3
NET CHANGE IN OPERATING ASSETS AND LIABILITIES
 9 Months Ended
Sep. 30, 2023
Increase (Decrease) in Operating Capital [Abstract]  
NET CHANGE IN OPERATING ASSETS AND LIABILITIES NET CHANGE IN OPERATING ASSETS AND LIABILITIESNet cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:
Nine Months Ended
September 30,
20232022
Decrease (increase) in operating assets:
Trade and other receivables $291 $133 
Inventories, stockpiles and ore on leach pads (263)(148)
Other assets 45 (176)
Increase (decrease) in operating liabilities:
Accounts payable11 52 
Reclamation and remediation liabilities (191)(170)
Accrued tax liabilities(152)(307)
Other accrued liabilities(83)(196)
Net change in operating assets and liabilities$(342)$(812)
v3.23.3
COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
General
Estimated losses from contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred, and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the contingency and estimated range of loss, if determinable, is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.
Operating Segments
The Company’s operating and reportable segments are identified in Note 3. Except as noted in this paragraph, all of the Company’s commitments and contingencies specifically described herein are included in Corporate and Other. The Yanacocha matters relate to the Yanacocha reportable segment. The Newmont Ghana Gold and Newmont Golden Ridge matters relate to the Ahafo and Akyem reportable segments, respectively. The CC&V matter relates to the CC&V reportable segment. The Mexico tax matter relates to the Peñasquito reportable segment.
Environmental Matters
Refer to Note 5 for further information regarding reclamation and remediation. Details about certain significant matters are discussed below.
Minera Yanacocha S.R.L. - 100% Newmont Owned
In 2015 and further modified in 2017 the Peruvian government agency responsible for certain environmental regulations, the Ministry of the Environment (“MINAM”), issued modifications to water quality standards for designated beneficial uses which modified the in-stream water quality criteria pursuant to which Yanacocha has been designing water treatment processes and infrastructure. These Peruvian regulations allow time for companies to formulate a compliance plan and make any necessary changes to achieve compliance.
In February 2017, Yanacocha submitted a modification to its previously approved compliance achievement plan to the MINEM. The Company did not receive a response or comments to this submission until April 2021. During this interim period, Yanacocha separately submitted an Environmental Impact Assessment ("EIA") modification considering the ongoing operations and the projects to be developed and obtained authorization from MINEM for such projects. This authorization included a deadline for compliance with the modified water quality criteria by January 2024. In May 2022, Yanacocha submitted a proposed modification to this plan requesting an extension of time for coming into full compliance with the new regulations in 2027. In June 2023, Yanacocha received approval of its updated compliance plan from MINEM and was granted an extension of time to June 2026 to achieve compliance. The Company has presented a legal recourse requesting the regulatory extension until 2027.
The Company currently operates five water treatment plants at Yanacocha that have been and currently meet all currently applicable water discharge requirements. The Company is conducting detailed studies to better estimate water management and other closure activities that will ensure water quality and quantity discharge requirements, including the modifications promulgated by MINAM, as referenced above, will be met. This also includes performing a comprehensive update to the Yanacocha reclamation plan to address changes in closure activities and estimated closure costs while preserving optionality for potential future projects at Yanacocha. These ongoing studies, which will extend beyond the current year, continue to evaluate and revise assumptions and estimated costs of changes to the reclamation plan. While certain estimated costs remain subject to revision, the Company’s current asset retirement obligation includes plans for the construction and post-closure management of two new water treatment plants and initial consideration of known risks (including the associated risk that these water treatment estimates could change in the future as more work is completed). The ultimate construction costs of the two water treatment plants remain highly uncertain as ongoing study work and assessment of opportunities that incorporates the latest design considerations remain in progress. These and other additional risks and contingencies that are the subject of ongoing studies, including, but not limited to, a comprehensive review of the Company's tailings storage facility management, review of Yanacocha’s water balance and storm water management system, and review of post-closure management costs, could result in future material increases to the reclamation obligation at Yanacocha.
Cripple Creek & Victor Gold Mining Company LLC - 100% Newmont Owned
In December 2021, Cripple Creek & Victor Gold Mining Company LLC (“CC&V”, a wholly-owned subsidiary of the Company) entered into a Settlement Agreement (“Settlement Agreement”) with the Water Quality Control Division of the Colorado Department of Public Health and Environment (the “Division”) with a mutual objective of resolving issues associated with the new discharge permits issued by the Division in January 2021 for the historic Carlton Tunnel. The Carlton Tunnel was a historic tunnel completed in 1941 with the purpose of draining the southern portion of the mining district, subsequently consolidated by CC&V. CC&V has held discharge permits for the Carlton Tunnel since 1983, but the January 2021 permit updates contained new water quality limits. The Settlement Agreement involves the installation of interim passive water treatment and ongoing monitoring over the next three years, and then more long-term water treatment installed with target compliance by November 2027. In 2022, the Company studied various interim passive water treatment options, reported the study results to the Division, and based on an evaluation of additional semi-passive options that involve the usage of power at the portal, updated the remediation liability to $20. CC&V continues to study alternative long-term remediation plans for water discharged from the Carlton Tunnel, and as such, a compliance extension request was submitted in July 2023 to allow additional time for proper assessment of treatment alternatives. The Company is also working with regulators on the Discharger Specific Variance to identify highest feasible alternative treatment in the context, based on limits such as area topography. Depending on the plans that may ultimately be agreed with the Division, a material adjustment to the remediation liability may be required.
Dawn Mining Company LLC (“Dawn”) - 58.19% Newmont Owned
Midnite mine site and Dawn mill site. Dawn previously leased an open pit uranium mine, currently inactive, on the Spokane Indian Reservation in the State of Washington. The mine site is subject to regulation by agencies of the U.S. Department of Interior (the Bureau of Indian Affairs and the Bureau of Land Management), as well as the EPA.
As per the Consent Decree approved by the U.S. District Court for the Eastern District of Washington on January 17, 2012, the following actions were required of Newmont, Dawn, the Department of the Interior and the EPA: (i) Newmont and Dawn would design, construct and implement the cleanup plan selected by the EPA in 2006 for the Midnite mine site; (ii) Newmont and Dawn would reimburse the EPA for its past costs associated with overseeing the work; (iii) the Department of the Interior would contribute a lump sum amount toward past EPA costs and future costs related to the cleanup of the Midnite mine site; (iv) Newmont and Dawn would be
responsible for all future EPA oversight costs and Midnite mine site cleanup costs; and (v) Newmont would post a surety bond for work at the site.
During 2012, the Department of Interior contributed its share of past EPA costs and future costs related to the cleanup of the Midnite mine site. In 2016, Newmont completed the remedial design process, with the exception of the new WTP design which was awaiting the approval of the new NPDES permit. Subsequently, the new NPDES permit was received in 2017 and the WTP design commenced in 2018. The EPA completed their assessment and approval of the WTP design in 2021 and Newmont has selected contractors for the construction of the new water treatment plant and effluent pipeline. Construction of the effluent pipeline began in 2021, and construction of the new WTP began in 2022.
The Dawn mill site is regulated by the Washington Department of Health (the "WDOH") and is in the process of being closed in accordance with the federal Uranium Mill Tailings Radiation Control Act, and associated Washington state regulations. Remediation at the Dawn mill site began in 2013. The Tailing Disposal Area 1-4 reclamation earthworks component was completed during 2017 with the embankment erosion protection completed in the second quarter of 2018. The remaining closure activities consist primarily of finalizing an Alternative Concentration Limit application (the "ACL application") submitted in 2020 to the WDOH to address groundwater issues, and also evaporating the remaining balance of process water at the site. In the fourth quarter of 2022, the WDOH provided comments on the ACL application, which Newmont is evaluating and conducting studies to better understand and respond to the comments provided by the WDOH. These studies and the related comment process will extend beyond the current year and could result in future material increases to the remediation obligation.
The remediation liability for the Midnite mine site and Dawn mill site is approximately $212, assumed 100% by Newmont, at September 30, 2023.
Goldcorp Canada Ltd. - 100% Newmont Owned
Porcupine mine site. The Porcupine complex is comprised of active open pit and underground mining operations as well as inactive, legacy sites from its extensive history of mining gold in and around the city of Timmins, Ontario since the early 1900s. As a result of these primarily historic mining activities, there are mine hazards in the area that could require some form of reclamation. The Company is conducting studies to better catalog, prioritize, and update its existing information of these historical mine hazards, to inform its closure plans and estimated closure costs. These studies will extend beyond the current year and could result in future material increases to the reclamation obligation at Porcupine.
Other Legal Matters
Newmont Corporation, as well as Newmont Canada Corporation, and Newmont Canada FN Holdings ULC – 100% Newmont Owned
Kirkland Lake Gold Inc., which was acquired by Agnico Eagle Mines Limited in 2022 (still referred to herein as “Kirkland” for ease of reference), owns certain mining and mineral rights in northeastern Ontario, Canada, referred to here as the Holt-McDermott property, on which it suspended operations in April 2020. A subsidiary of the Company has a retained royalty obligation (“Holt royalty obligation”) to Royal Gold, Inc. (“Royal Gold”) for production on the Holt-McDermott property. In August 2020, the Company and Kirkland signed a Strategic Alliance Agreement (the “Kirkland Agreement”). As part of the Kirkland Agreement, the Company purchased an option (the “Holt option”) for $75 from Kirkland for the mining and mineral rights subject to the Holt royalty obligation. The Company has the right to exercise the Holt option and acquire ownership to the mineral interests subject to the Holt royalty obligation in the event Kirkland intends to resume operations and process material subject to the obligation. Kirkland has the right to assume the Company’s Holt royalty obligation at any time, in which case the Holt option would terminate.
On August 16, 2021, International Royalty Corporation (“IRC”), a wholly-owned subsidiary of Royal Gold, filed an action in the Supreme Court of Nova Scotia against Newmont Corporation, Newmont Canada Corporation, Newmont Canada FN Holdings ULC (collectively "Newmont"), and certain Kirkland defendants (collectively "Kirkland"). IRC alleges the Kirkland Agreement is oppressive to the interests of Royal Gold under the Nova Scotia Companies Act and the Canada Business Corporations Act, and that, by entering into the Kirkland Agreement, Newmont breached its contractual obligations to Royal Gold. IRC seeks declaratory relief, and $350 in alleged royalty payments that it claims Newmont expected to pay under the Holt royalty obligation, but for the Kirkland Agreement. Kirkland filed a motion seeking dismissal of the case against it, which the court granted in October 2022. Newmont submitted its statement of defense on February 27, 2023. Newmont intends to vigorously defend this matter but cannot reasonably predict the outcome.
NWG Investments Inc. v. Fronteer Gold Inc.
In April 2011, Newmont acquired Fronteer Gold Inc. (“Fronteer”).
Fronteer acquired NewWest Gold Corporation (“NewWest Gold”) in September 2007. At the time of that acquisition, NWG Investments Inc. (“NWG”) owned approximately 86% of NewWest Gold and an individual named Jacob Safra owned or controlled 100% of NWG. Prior to its acquisition of NewWest Gold, Fronteer entered into a June 2007 lock-up agreement with NWG providing that, among other things, NWG would support Fronteer’s acquisition of NewWest Gold. At that time, Fronteer owned approximately 47% of Aurora Energy Resources Inc. (“Aurora”), which, among other things, had a uranium exploration project in Labrador, Canada.
NWG contends that, during the negotiations leading up to the lock-up agreement, Fronteer represented to NWG, among other things, that Aurora would commence uranium mining in Labrador by 2013, that this was a firm date, that Aurora faced no current environmental issues in Labrador and that Aurora’s competitors faced delays in commencing uranium mining. NWG further contends that it entered into the lock-up agreement and agreed to support Fronteer’s acquisition of NewWest Gold in reliance upon these purported representations. On October 11, 2007, less than three weeks after the Fronteer-NewWest Gold transaction closed, a member of the Nunatsiavut Assembly introduced a motion calling for the adoption of a moratorium on uranium mining in Labrador. On April 8, 2008, the Nunatsiavut Assembly adopted a three-year moratorium on uranium mining in Labrador. NWG contends that Fronteer was aware during the negotiations of the NWG/Fronteer lock-up agreement that the Nunatsiavut Assembly planned on adopting this moratorium and that its adoption would preclude Aurora from commencing uranium mining by 2013, but Fronteer nonetheless fraudulently induced NWG to enter into the lock-up agreement.
On September 24, 2012, NWG served a summons and complaint on the Company, and then amended the complaint to add Newmont Canada Holdings ULC as a defendant. The complaint also named Fronteer Gold Inc. and Mark O’Dea as defendants. The complaint sought rescission of the merger between Fronteer and NewWest Gold and $750 in damages. In August 2013 the Supreme Court of New York, New York County issued an order granting the defendants’ motion to dismiss on forum non conveniens. Subsequently, NWG filed a notice of appeal of the decision and then a notice of dismissal of the appeal on March 24, 2014.
On February 26, 2014, NWG filed a lawsuit in Ontario Superior Court of Justice against Fronteer Gold Inc., Newmont Mining Corporation, Newmont Canada Holdings ULC, Newmont FH B.V. and Mark O’Dea. The Ontario complaint is based upon substantially the same allegations contained in the New York lawsuit with claims for fraudulent and negligent misrepresentation. NWG seeks disgorgement of profits since the close of the NWG deal on September 24, 2007 and damages in the amount of C$1,200. Newmont, along with other defendants, served the plaintiff with its statement of defense on October 17, 2014. Newmont, along with the other defendants, filed a motion to dismiss based on delay on November 29, 2022. On August 22, 2023, the Court granted the motion and dismissed the Ontario complaint for delay. NWG filed an appeal with the Court of Appeal for Ontario on September 21, 2023. Newmont intends to vigorously defend the appeal but cannot reasonably predict the outcome.
Newmont Ghana Gold Limited and Newmont Golden Ridge Limited - 100% Newmont Owned
On December 24, 2018, two individual plaintiffs, who are members of the Ghana Parliament (“Plaintiffs”), filed a writ to invoke the original jurisdiction of the Supreme Court of Ghana. On January 16, 2019, Plaintiffs filed the Statement of Plaintiff’s Case outlining the details of the Plaintiff’s case and subsequently served Newmont Ghana Gold Limited (“NGGL”) and Newmont Golden Ridge Limited (“NGRL”) along with the other named defendants, the Attorney General of Ghana, the Minerals Commission of Ghana and 33 other mining companies with interests in Ghana. The Plaintiffs allege that under article 268 of the 1992 Constitution of Ghana, the mining company defendants are not entitled to carry out any exploitation of minerals or other natural resources in Ghana, unless their respective transactions, contracts or concessions are ratified or exempted from ratification by the Parliament of Ghana. Newmont’s current mining leases are both ratified by Parliament; NGGL June 13, 2001 mining lease, ratified by Parliament on October 21, 2008, and NGRL January 19, 2010 mining lease; ratified by Parliament on December 3, 2015. The writ alleges that any mineral exploitation prior to Parliamentary ratification is unconstitutional. The Plaintiffs seek several remedies including: (i) a declaration as to the meaning of constitutional language at issue; (ii) an injunction precluding exploitation of minerals for any mining company without prior Parliamentary ratification; (iii) a declaration that all revenue as a result of violation of the Constitution shall be accounted for and recovered via cash equivalent; and (iv) an order that the Attorney General and Minerals Commission submit all un-ratified mining leases, undertakings or contracts to Parliament for ratification. Newmont intends to vigorously defend this matter but cannot reasonably predict the outcome.
Other Commitments and Contingencies
Newmont is from time to time involved in various legal proceedings related to its business. Except in the above described proceedings, management does not believe that adverse decisions in any pending or threatened proceeding or that amounts that may be required to be paid by reason thereof will have a material adverse effect on the Company’s financial condition or results of operations.
Deferred payments to Barrick of $98 and $120 as of September 30, 2023 and December 31, 2022, respectively, are to be satisfied through funding a portion of Barrick’s share of project expenditures at the Norte Abierto project. These deferred payments to Barrick are included in Other current liabilities and Other non-current liabilities.
Refer to Note 25 of the Consolidated Financial Statements included in Part II of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023 for information on the Company's contingent payments.
v3.23.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Pay vs Performance Disclosure        
Net Income (Loss) Attributable to Parent $ 158 $ 213 $ 664 $ 1,048
v3.23.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.23.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Risks and Uncertainties
Risks and Uncertainties
The Company continues to experience the impacts from geopolitical and macroeconomic pressures. With the resulting volatile environment, the Company continues to monitor inflationary conditions, the effects of certain countermeasures taken by central banks, and the potential for further supply chain disruptions relating to the Russian invasion of Ukraine and the COVID-19 pandemic, as well as an uncertain and evolving labor market.
These factors could have further potential short- and, possibly, long-term material adverse impacts on the Company including, but not limited to, volatility in commodity prices and the prices for gold and other metals, changes in the equity and debt markets or country specific factors adversely impacting discount rates, significant cost inflation impacts on production, capital and asset retirement costs, logistical challenges, workforce interruptions and financial market disruptions, as well as potential impacts to estimated costs and timing of projects.
The Company will continue to monitor and evaluate the potential impacts of the current and ongoing geopolitical and macroeconomic pressures. Depending on the duration and extent of ongoing global developments, these factors could materially impact the Company’s results of operations, cash flows and financial condition and could result in material impairment charges to the
Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; Deferred income tax assets; and Goodwill.
Refer to Note 18 below for further information on risks and uncertainties that could have a potential impact on the Company as well as Note 2 of the Consolidated Financial Statements included in Part II of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023.
In June 2023, the Company announced the deferral of the full-funds investment decision for the Yanacocha Sulfides project in Peru for at least two years to the second half of 2026. The delay of the Yanacocha Sulfides project is intended to focus funds on current operations and other capital commitments while management assesses execution and project options, up to and including transitioning Yanacocha operations into full closure. To the extent that assessment determines that the project is no longer sufficiently profitable or economically feasible under the Company’s internal requirements, it would result in negative modifications to the Company's proven and probable reserves. Additionally, should the Company ultimately decide to forgo the development of Yanacocha Sulfides, the current carrying value of the assets under construction and other long-lived assets of the Yanacocha operations could become impaired and the timing of certain closure activities would be accelerated. As of September 30, 2023, the Yanacocha operations have total long-lived assets of approximately $1,163, inclusive of approximately $822 of assets under construction related to Yanacocha Sulfides. Refer also to the Company's risk factors under the titles "Estimates relating to projects and mine plans of existing operations are uncertain and we may incur higher costs and lower economic returns than estimated” and "Our long-lived assets and goodwill could become impaired, which could have a material non-cash adverse effect on our results of operations” included in Part I of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023, for further information.
Additionally, the Company continues to hold the Conga project in Peru, which we do not currently anticipate developing in the next ten years as we continue to assess Yanacocha Sulfides; accordingly, the Conga project remains in care and maintenance. Should we be unable to develop the Conga project or conclude that future development is not in the best interest of the business, we may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga were $896 at September 30, 2023.
On June 7, 2023, the National Union of Mine and Metal Workers of the Mexican Republic (the "Union") notified the Company of a strike action. In response to the strike notice, the Company suspended operations at Peñasquito. Operations remained suspended throughout the third quarter of 2023. On October 13, 2023, the Company reached a definitive agreement with the Union that also received approval from the Mexican Labor Court. Per the agreement, the Company will pay Peñasquito workers a fixed amount equivalent to approximately 60% of wages for the duration of the strike, and an additional bonus of two months’ wages to be paid out in the second quarter of 2024 if, as a consequence of the strike, the Peñasquito mine reports no profit in 2023. Additionally, as a part of a separate annual negotiation under the Collective Bargaining Agreement, the Company agreed to an annual salary increase of 8% effective as of August 1, 2023, which is in line with the Mexican mining industry wage increases for 2023. Operations at Peñasquito will resume in the fourth quarter of 2023.
Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.
Reclassifications
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the current year presentation.
Recently Adopted Accounting Pronouncements and Federal Laws
Recently Adopted Accounting Pronouncements and Federal Laws
Inflation Reduction Act
In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the "IRA") into law. The IRA introduced an excise tax on stock repurchases of 1% of the fair market value of stock repurchases net of stock issued during the tax year and a corporate alternative minimum tax (the "Corporate AMT") of 15% on the adjusted financial statement income ("AFSI") of corporations with average AFSI exceeding $1 billion over a three-year period. The excise tax on stock repurchases is effective on net stock repurchases made after December 31, 2022 and the Corporate AMT is effective for tax periods beginning in fiscal year 2023. While waiting on pending Department of Treasury regulatory guidance, the Company is continuing to monitor developments. Based upon information known to date, the IRA had no material impact on the Company's current consolidated financial statements and is not expected to have a material impact on future consolidated financial statements, disclosures, or cash flows.
Effects of Reference Rate Reform
In March 2020, ASU No. 2020-04 was issued which provides optional guidance for a limited period of time to ease the potential burden on accounting for contract modifications caused by reference rate reform. In January 2021, ASU No. 2021-01 was
issued which broadened the scope of ASU No. 2020-04 to include certain derivative instruments. In December 2022, ASU No. 2022-06 was issued which deferred the sunset date of ASU No. 2020-04. The guidance is effective for all entities as of March 12, 2020 through December 31, 2024. The guidance may be adopted over time as reference rate reform activities occur and should be applied on a prospective basis. The Company has completed its review of key contracts and does not expect the guidance to have a material impact to the consolidated financial statements or disclosures. The Company will continue to review new contracts to identify references to the LIBOR and implement adequate fallback provisions if not already implemented to mitigate the risks or impacts from the transition.
v3.23.3
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Financial Information of Company's Segments The financial information relating to the Company’s segments is as follows:
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Three Months Ended September 30, 2023
CC&V$87 $57 $6 $4 $17 $21 
Musselwhite92 50 21 2 19 29 
Porcupine118 73 29 5 8 37 
Éléonore
91 63 22 3 3 29 
Peñasquito: (2)(3)
Gold(2)16 12 
Silver5 23 19 
Lead— 7 6 
Zinc(2)18 16 
Total Peñasquito1 64 53 3 (128)9 
Merian160 104 23 9 24 26 
Cerro Negro
124 79 34 3 (1)44 
Yanacocha162 90 27 — 15 81 
Boddington:
Gold350 157 28 
Copper90 50 8 
Total Boddington440 207 36 1 198 54 
Tanami238 81 30 7 157 98 
Ahafo265 133 47 12 82 73 
Akyem135 72 31 6 24 9 
NGM580 298 112 8 151 132 
Corporate and Other— — 9 68 (337)10 
Consolidated$2,493 $1,371 $480 $131 $232 $652 
____________________________
(1)Includes an increase in accrued capital expenditures of $48. Consolidated capital expenditures on a cash basis were $604.
(2)On June 7, 2023, the Company suspended its operations at Peñasquito due to the Union strike. During the strike, Peñasquito continued to incur costs and reported $78 and $53 in Cost applicable to sales and Depreciation and amortization, respectively, related to continued costs. Additionally, Cost applicable to sales includes adjustments to the profit-sharing agreement accrual for the current period. On October 13, 2023, the Company reached an agreement with the Union and operations at Peñasquito are expected to resume in the fourth quarter of 2023. Refer to Note 2 for further information.
(3)Sales activity recognized in the third quarter of 2023 is related to adjustments on provisionally priced concentrate sales subject to final settlement.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Three Months Ended September 30, 2022
CC&V$81 $64 $19 $3 $(9)$12 
Musselwhite74 47 19 2 7 15 
Porcupine127 72 26 4 31 36 
Éléonore94 64 28 — 7 19 
Peñasquito:
Gold228 109 38 
Silver105 85 29 
Lead26 15 5 
Zinc105 64 19 
Total Peñasquito464 273 91 5 89 44 
Merian145 89 19 8 31 13 
Cerro Negro
114 71 32 8 (8)36 
Yanacocha90 74 21 5 (39)112 
Boddington:
Gold283 148 28 
Copper48 36 7 
Total Boddington331 184 35 1 121 23 
Tanami220 81 26 8 122 78 
Ahafo263 155 43 7 59 52 
Akyem174 77 32 4 58 7 
NGM457 294 109 9 49 75 
Corporate and Other— — 8 85 (222)13 
Consolidated$2,634 $1,545 $508 $149 $296 $535 
____________________________
(1)Includes an increase in accrued capital expenditures of $6. Consolidated capital expenditures on a cash basis were $529.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Nine Months Ended September 30, 2023
CC&V$260 $157 $19 $10 $65 $44 
Musselwhite255 163 58 7 23 74 
Porcupine366 220 85 15 35 95 
Éléonore (2)
320 212 73 6 27 74 
Peñasquito: (3)
Gold203 123 47 
Silver246 200 78 
Lead64 62 25 
Zinc180 194 70 
Total Peñasquito693 579 220 9 (163)81 
Merian423 269 56 17 80 61 
Cerro Negro
340 232 99 6 (25)118 
Yanacocha394 225 65 9 6 209 
Boddington:
Gold1,125 483 83 
Copper282 151 26 
Total Boddington1,407 634 109 4 657 128 
Tanami605 244 80 20 297 287 
Ahafo777 384 128 28 244 240 
Akyem381 189 86 14 85 31 
NGM1,634 888 323 25 376 339 
Corporate and Other— — 26 154 (636)37 
Consolidated$7,855 $4,396 $1,427 $324 $1,071 $1,818 
____________________________
(1)Includes an increase in prepaid capital expenditures and accrued capital expenditures of $72. Consolidated capital expenditures on a cash basis were $1,746.
(2)In June 2023, the Company evacuated Éléonore and temporarily shut down the operation in response to the wildfires in Canada. During the temporary shutdown, the Company continued to incur costs and reported $6 and $2 in Cost applicable to sales and Depreciation and amortization, respectively. Operations were fully resumed during the third quarter of 2023.
(3)On June 7, 2023, the Company suspended its operations at Peñasquito due to the Union strike. During the strike, Peñasquito continued to incur costs and reported $101 and $68 in Cost applicable to sales and Depreciation and amortization, respectively, related to continued costs. Additionally, Cost applicable to sales includes adjustments to the profit-sharing agreement accrual for the current period. On October 13, 2023, the Company reached an agreement with the Union and operations at Peñasquito are expected to resume in the fourth quarter of 2023. Refer to Note 2 for further information.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other Items
Capital Expenditures (1)
Nine Months Ended September 30, 2022
CC&V$234 $165 $51 $7 $(6)$30 
Musselwhite207 143 55 5 4 33 
Porcupine366 209 73 11 76 112 
Éléonore275 197 84 1 (7)42 
Peñasquito: (2)
Gold710 323 111 
Silver401 337 115 
Lead98 66 23 
Zinc407 244 76 
Total Peñasquito1,616 970 325 16 286 132 
Merian518 270 61 17 170 37 
Cerro Negro
381 205 113 15 15 96 
Yanacocha345 214 67 11 (26)258 
Boddington:
Gold1,093 491 89 
Copper223 131 24 
Total Boddington1,316 622 113 4 599 58 
Tanami655 230 74 21 353 256 
Ahafo718 390 116 18 201 189 
Akyem546 220 95 12 214 27 
NGM1,538 853 361 24 293 213 
Corporate and Other— — 26 176 (840)35 
Consolidated$8,715 $4,688 $1,614 $338 $1,332 $1,518 
____________________________
(1)Includes an increase in accrued capital expenditures of $33; consolidated capital expenditures on a cash basis were $1,485.
(2)Costs applicable to sales includes amounts resulting from the profit-sharing agreement completed with the Peñasquito workforce during the second quarter of 2022. Under the agreement, the Company agreed to pay its workforce an uncapped profit-sharing bonus each year, based on the agreed upon terms. Additionally, the terms of the agreement are retroactively applied to profit-sharing related to 2021 site performance, resulting in $70 recorded within Costs applicable to sales in the second quarter of 2022. The amounts related to the 2021 profit-sharing were paid in the third quarter of 2022.
v3.23.3
SALES (Tables)
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of sales by mining operation, product and by inventory type, and provisional sales
The following tables present the Company’s Sales by mining operation, product and inventory type:
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Three Months Ended September 30, 2023
CC&V$87 $— $87 
Musselwhite 92 — 92 
Porcupine 118 — 118 
Éléonore 91 — 91 
Peñasquito: (1)
Gold— (2)(2)
Silver (2)
— 5 5 
Lead— — — 
Zinc— (2)(2)
Total Peñasquito— 1 1 
Merian160 — 160 
Cerro Negro 124 — 124 
Yanacocha162 — 162 
Boddington:
Gold86 264 350 
Copper— 90 90 
Total Boddington86 354 440 
Tanami238 — 238 
Ahafo265 — 265 
Akyem135 — 135 
NGM (3)
559 21 580 
Consolidated$2,117 $376 $2,493 
____________________________
(1)Sales activity recognized in the third quarter of 2023 is related to adjustments on provisionally priced concentrate sales subject to final settlement.
(2)No amortization of the silver streaming agreement liability was recognized in the third quarter of 2023 within sales from concentrate and other production due to the suspended operations at Peñasquito.
(3)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $556 for the three months ended September 30, 2023.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Three Months Ended September 30, 2022
CC&V$81 $— $81 
Musselwhite 74 — 74 
Porcupine 127 — 127 
Éléonore 94 — 94 
Peñasquito:
Gold23 205 228 
Silver (1)
— 105 105 
Lead— 26 26 
Zinc— 105 105 
Total Peñasquito23 441 464 
Merian145 — 145 
Cerro Negro 114 — 114 
Yanacocha90 — 90 
Boddington:
Gold78 205 283 
Copper— 48 48 
Total Boddington78 253 331 
Tanami220 — 220 
Ahafo263 — 263 
Akyem174 — 174 
NGM (2)
439 18 457 
Consolidated$1,922 $712 $2,634 
____________________________
(1)Silver sales from concentrate includes $17 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $434 for the three months ended September 30, 2022.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Nine Months Ended September 30, 2023
CC&V$260 $— $260 
Musselwhite 255 — 255 
Porcupine 366 — 366 
Éléonore 320 — 320 
Peñasquito:
Gold34 169 203 
Silver (1)
— 246 246 
Lead— 64 64 
Zinc— 180 180 
Total Peñasquito34 659 693 
Merian423 — 423 
Cerro Negro 340 — 340 
Yanacocha386 8 394 
Boddington:
Gold279 846 1,125 
Copper— 282 282 
Total Boddington279 1,128 1,407 
Tanami605 — 605 
Ahafo777 — 777 
Akyem381 — 381 
NGM (2)
1,571 63 1,634 
Consolidated$5,997 $1,858 $7,855 
____________________________
(1)Silver sales from concentrate includes $31 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $1,568 for the nine months ended September 30, 2023.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Nine Months Ended September 30, 2022
CC&V$229 $5 $234 
Musselwhite 207 — 207 
Porcupine 366 — 366 
Éléonore 275 — 275 
Peñasquito:
Gold79 631 710 
Silver (1)
— 401 401 
Lead— 98 98 
Zinc— 407 407 
Total Peñasquito79 1,537 1,616 
Merian518 — 518 
Cerro Negro 381 — 381 
Yanacocha346 (1)345 
Boddington:
Gold276 817 1,093 
Copper— 223 223 
Total Boddington276 1,040 1,316 
Tanami655 — 655 
Ahafo718 — 718 
Akyem546 — 546 
NGM (2)
1,489 49 1,538 
Consolidated$6,085 $2,630 $8,715 
____________________________
(1)Silver sales from concentrate includes $56 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $1,485 for the nine months ended September 30, 2022.
At September 30, 2023, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
GoldCopperSilverLeadZinc
(ounces,
in thousands)		(pounds,
in millions)		(ounces,
in thousands)		(pounds,
in millions)		(pounds,
in millions)
Provisionally priced sales subject to final pricing (1)
76 34 48 — 10 
Average provisional price, per measure$1,851 $3.75 $22.22 $— $1.20 
____________________________
(1)Includes provisionally priced by-product sales subject to final pricing, which are recognized in Costs applicable to sales.
v3.23.3
RECLAMATION AND REMEDIATION (Tables)
 9 Months Ended
Sep. 30, 2023
Environmental Remediation Obligations [Abstract]  
Reclamation and Remediation Expense The Company’s Reclamation and remediation expense consisted of:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Reclamation adjustments and other$53 $7 $61 $9 
Reclamation accretion60 43 179 129 
Reclamation expense113 50 240 138 
Remediation adjustments and other51 1 52 20 
Remediation accretion2 2 6 5 
Remediation expense53 3 58 25 
Reclamation and remediation$166 $53 $298 $163 
Reconciliation of Reclamation Liabilities
The following are reconciliations of Reclamation and remediation liabilities:
Reclamation (1)
Remediation (2)
2023202220232022
Balance at January 1,$6,731 $5,768 $373 $344 
Additions, changes in estimates and other75 9 45 13 
Payments, net(163)(128)(28)(42)
Accretion expense 179 129 6 5 
Balance at September 30,
$6,822 $5,778 $396 $320 
____________________________
(1)The $75 addition for the nine months ended September 30, 2023 was primarily due to increased labor and post-closure maintenance costs, and higher estimated costs arising from recent tailings management review and monitoring requirements set forth by GISTM at non-operating portions of the Porcupine site operation, and higher estimated closure costs at NGM due to GISTM compliance at Phoenix.
(2)The $45 addition for the nine months ended September 30, 2023 was primarily due to higher water management costs and project execution delays at Midnite Mine. The $13 addition for the nine months ended September 30, 2022 was due to expected higher waste disposal costs at Midnite Mine.

At September 30, 2023At December 31, 2022
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$460 $44 $504 $482 $44 $526 
Non-current (2)
6,362 352 6,714 6,249 329 6,578 
Total (3)
$6,822 $396 $7,218 $6,731 $373 $7,104 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(3)Total reclamation liabilities include $3,685 and $3,722 related to Yanacocha at September 30, 2023 and December 31, 2022, respectively.
Reconciliation of Remediation Liabilities
At September 30, 2023At December 31, 2022
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$460 $44 $504 $482 $44 $526 
Non-current (2)
6,362 352 6,714 6,249 329 6,578 
Total (3)
$6,822 $396 $7,218 $6,731 $373 $7,104 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(3)Total reclamation liabilities include $3,685 and $3,722 related to Yanacocha at September 30, 2023 and December 31, 2022, respectively.
v3.23.3
OTHER EXPENSE, NET (Tables)
 9 Months Ended
Sep. 30, 2023
Operating Costs and Expenses [Abstract]  
Schedule of other expense, net
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Newcrest transaction-related costs (1)
$16 $— $37 $— 
Restructuring and severance7 2 19 3 
Impairment charges2 1 10 3 
Settlement costs2 2 2 20 
COVID-19 specific costs (2)
— 6 — 33 
Other10 — 18 9 
Other expense, net$37 $11 $86 $68 
____________________________
(1)Represents costs incurred related to the Newcrest Transaction in 2023. Refer to Note 1 for further information.
(2)Beginning January 1, 2023, COVID-19 specific costs incurred in the ordinary course of business are recognized in Costs applicable to sales.
v3.23.3
OTHER INCOME (LOSS), NET (Tables)
 9 Months Ended
Sep. 30, 2023
Other Income, Nonoperating [Abstract]  
Other Income, Net
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Interest income$35 $27 $108 $43 
Change in fair value of investments(41)5 (42)(91)
Insurance proceeds (1)
37 — 37 8 
Gain (loss) on asset and investment sales, net (2)
(2)9 34 (26)
Foreign currency exchange, net10 10 (12)38 
Pension settlement (3)
— — — (130)
Other3 5 (1)30 
Other income (loss), net$42 $56 $124 $(128)
____________________________
(1)Primarily relates to insurance proceeds received by the Company in the third quarter of 2023 of $45 and $11 related to Tanami due to significant rainfall and flooding in early 2023 and a conveyor failure at Ahafo, respectively. Of these amounts, $31 and $6, respectively, were recognized in Other income (loss), net, and primarily relate to business interruption coverage. The remaining amounts were recognized within Costs applicable to sales.
(2)For the nine months ended September 30, 2023, primarily consists of the gain recognized on the exchange of the previously held Maverix Metals, Inc. ("Maverix") investment for the Triple Flag Precious Metals Corporation ("Triple Flag") investment in January 2023, partially offset by the loss on the sale of the Triple Flag investment in March 2023. Refer to Note 11 for further information. For the nine months ended September 30, 2022, primarily consists of the loss recognized on the sale of the La Zanja equity method investment partially offset by a gain on the sale of a royalty held at NGM. Refer to Note 1 for further information.
(3)Primarily relates to the non-cash pension settlement charges of $130 resulting from the Company executing an annuitization to transfer a portion of the pension plan obligations from the Company's U.S. qualified defined benefit pension plans to an insurance company using plan assets during the first quarter of 2022.
v3.23.3
INCOME AND MINING TAXES (Tables)
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income and Mining Tax Expense Reconciliation
A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate follows:
Three Months Ended
September 30, (1)
Nine Months Ended
September 30, (1)
2023202220232022
Income (loss) before income and mining tax and other items$232 $296 $1,071 $1,332 
U.S. federal statutory tax rate21 %$49 21 %$61 21 %$225 21 %$279 
Reconciling items:
Percentage depletion(6)(13)(4)(13)(4)(40)(3)(43)
Change in valuation allowance on deferred tax assets30 69 6 19 12 126 

5 68 
Foreign rate differential6 13 10 29 8 88 11 148 
Effect of foreign earnings, net of credits6 13 — 1 2 25 2 20 
Mining and other taxes (net of associated federal benefit)4 9 5 16 5 58 6 75 
Tax impact of foreign exchange (32)(72)(7)(22)(5)(52)(4)(48)
Mexico Tax Settlement (2)
— — — — — — (9)(125)
Other2 5 2 5 3 19 (3)(31)
Income and mining tax expense (benefit)31 %$73 33 %$96 42 %$449 26 %$343 
____________________________
(1)Tax rates may not recalculate due to rounding.
(2)Following the framework established with the Mexican Tax Authority in the fourth quarter of 2021, a full settlement was entered into during the second quarter of 2022, which resulted in a net tax benefit of $125, primarily consisting of a reduction in the related uncertain tax position of $95.
v3.23.3
FAIR VALUE ACCOUNTING (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) or nonrecurring basis by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Refer to Note 13 of the Consolidated Financial Statements included in Part II of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023 for further information on the Company's assets and liabilities included in the fair value hierarchy presented below.
Fair Value at September 30, 2023
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,190 $3,190 $— $— 
Restricted cash74 74 — — 
Trade receivable from provisional sales, net 78 — 78 — 
Marketable equity securities (Note 11)
213 207 6 — 
Restricted marketable debt securities (Note 11)
21 20 1 — 
Restricted other assets (Note 11)
8 8 — — 
Contingent consideration assets (Note 10)
195 — — 195 
$3,779 $3,499 $85 $195 
Liabilities:
Debt (2)
$4,981 $— $4,981 $— 
Contingent consideration liabilities (Note 10)
5 — — 5 
Derivative liabilities (Note 10)
13 — 13 — 
$4,999 $— $4,994 $5 
Fair Value at December 31, 2022
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$2,877 $2,877 $— $— 
Restricted cash67 67 — — 
Time deposits and other (Note 11)
846 — 846 — 
Trade receivable from provisional sales, net 364 — 364 — 
Long-lived assets25 — — 25 
Marketable equity securities (Note 11)
260 250 10 — 
Restricted marketable debt securities (Note 11)
27 23 4 — 
Restricted other assets (Note 11)
8 8 — — 
Contingent consideration assets (Note 10)
188 — — 188 
Derivative assets (Note 10)
20 — 20 — 
$4,682 $3,225 $1,244 $213 
Liabilities:
Debt (2)
$5,136 $— $5,136 $— 
Contingent consideration liabilities (Note 10)
3 — — 3 
$5,139 $— $5,136 $3 
____________________________
(1)Cash and cash equivalents include time deposits that have an original maturity of three months or less.
(2)Debt is carried at amortized cost. The outstanding carrying value was $5,575 and $5,571 at September 30, 2023 and December 31, 2022, respectively. Refer to Note 14 for further information. The fair value measurement of debt was based on an independent third-party pricing source.
Quantitative and Qualitative Information
The following tables set forth a summary of the quantitative and qualitative information related to the significant observable and unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at September 30, 2023 and December 31, 2022:
DescriptionAt September 30, 2023Valuation TechniqueSignificant InputRange, Point Estimate or Average
Contingent consideration assets$195 
Monte Carlo (1)
Discount rate (2)
8.76 - 29.59
%
Contingent consideration liabilities$5 Discounted cash flow
Discount rate (2)
5.56 - 7.08
%
DescriptionAt December 31, 2022Valuation TechniqueSignificant InputRange, Point Estimate or Average
Long-lived assets$25 Market-based approach
Various (3)
Various (3)
Contingent consideration assets$188 
Monte Carlo (1)
Discount rate (2)
8.75 - 29.59
%
Contingent consideration liabilities$3 Discounted cash flow
Discount rate (2)
5.56 - 7.08
%
____________________________
(1)A Monte Carlo valuation model is used for the fair value measurement of the Batu Hijau contingent consideration asset. All other contingent consideration assets are valued using a probability-weighted discounted cash flow where the significant input is the discount rate.
(2)The weighted average discount rate used to calculate the Company’s contingent consideration assets and liabilities is 11.87% and 6.47%, respectively, at September 30, 2023 and 11.86% and 6.07%, respectively, at December 31, 2022. Various other inputs including, but not limited to, metal prices and production profiles were considered in determining the fair value of the individual contingent consideration assets and liabilities.
(3)At December 31, 2022, the Company recognized an impairment charge on the long-lived assets at CC&V, which resulted in a remaining long-lived asset balance of $25. The impairment was determined using the income approach and included the following significant inputs (i) updated cash flow information from the Company's business and closure plans at December 31, 2022, (ii) a short-term gold price of $1,750, (iii) a long-term gold price of $1,600, (iv) current estimates of reserves, resources, and exploration potential, and (v) a country specific pre-tax discount rate of 6.75%. The Company performed a nonrecurring fair value measurement and estimated the fair value of the remaining asset balance using a market-based approach based on the appraised value in an assumed sale to a third-party market participant.
Changes in the Fair Value of the Company's Level 3 Financial Assets The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Contingent Consideration
Assets (1)
Total Assets
Contingent Consideration Liabilities (2)
Total Liabilities
Fair value at December 31, 2022$188 $188 $3 $3 
Revaluation7 7 2 2 
Fair value at September 30, 2023$195 $195 $5 $5 
Contingent Consideration
Assets (1)
Total AssetsContingent consideration liabilitiesTotal liabilities
Fair value at December 31, 2021$171 $171 $5 $5 
Revaluation(2)(2)— — 
Fair value at September 30, 2022$169 $169 $5 $5 
____________________________
(1)In 2023, the (loss) gain recognized on revaluation of contingent consideration assets of $(2) and $9 is included in Other income (loss), net and Net income (loss) from discontinued operations, respectively. In 2022, the (loss) gain recognized on revaluation contingent consideration assets of $(6) and $4 is included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
(2)In 2023, the loss recognized on revaluation of contingent consideration liabilities is included in Other income (loss), net.
Changes in the Fair Value of the Company's Level 3 Financial Liabilities The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Contingent Consideration
Assets (1)
Total Assets
Contingent Consideration Liabilities (2)
Total Liabilities
Fair value at December 31, 2022$188 $188 $3 $3 
Revaluation7 7 2 2 
Fair value at September 30, 2023$195 $195 $5 $5 
Contingent Consideration
Assets (1)
Total AssetsContingent consideration liabilitiesTotal liabilities
Fair value at December 31, 2021$171 $171 $5 $5 
Revaluation(2)(2)— — 
Fair value at September 30, 2022$169 $169 $5 $5 
____________________________
(1)In 2023, the (loss) gain recognized on revaluation of contingent consideration assets of $(2) and $9 is included in Other income (loss), net and Net income (loss) from discontinued operations, respectively. In 2022, the (loss) gain recognized on revaluation contingent consideration assets of $(6) and $4 is included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
(2)In 2023, the loss recognized on revaluation of contingent consideration liabilities is included in Other income (loss), net.
v3.23.3
DERIVATIVES INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table provides the fair value of the Company’s derivative instruments designated as cash flow hedges:
At September 30,
2023		At December 31,
2022
Derivative assets:
Foreign currency cash flow hedges, current (1)
$— $12 
Foreign currency cash flow hedges, non-current (2)
— 8 
$— $20 
Derivative liabilities:
Foreign currency cash flow hedges, current (3)
$13 $— 
$13 $— 
____________________________
(1)Included in Other current assets in the Company’s Condensed Consolidated Balance Sheets.
(2)Included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.
(3)Included in Other current liabilities in the Company’s Condensed Consolidated Balance Sheets.
Derivative Instruments, Gain (Loss)
The following table provides the losses (gains) recognized in earnings related to the Company's derivative instruments:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Loss (gain) on cash flow hedges:
Foreign currency cash flow hedges (1)
$6 $— $8 $— 
Interest rate contracts (2)
2 1 4 3 
$8 $1 $12 $3 
____________________________
(1)Foreign currency cash flow hedges relate to contracts entered into, and subsequently settled, to mitigate the variability of CAD and AUD denominated operating expenditures. The amounts are reclassified out of Accumulated other comprehensive income (loss) into earnings in the month that the operating expenditures are incurred. The losses (gains) recognized in earnings are included in Costs applicable to sales in the Company’s Condensed Consolidated Statement of Operations.
(2)Interest rate contracts relate to swaps entered into, and subsequently settled, associated with the issuance of certain senior notes. The related gains and losses are reclassified from Accumulated Other Comprehensive Income (Loss) and amortized to Interest expense, net over the term of the respective hedged notes.
Derivatives Not Designated as Hedging Instruments
The Company had the following contingent consideration assets and liabilities:
At September 30,
2023		At December 31,
2022
Contingent consideration assets:
Batu Hijau and Elang (1)
$148 $139 
Red Lake (2)
37 39 
Cerro Blanco (2)
5 5 
Triple Flag (previously Maverix) (2)(3)
4 4 
Other (2)
1 1 
$195 $188 
Contingent consideration liabilities: (4)
Norte Abierto$3 $1 
Galore Creek2 2 
$5 $3 
____________________________
(1)At September 30, 2023, $70 is included in Other current assets and $78 is included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets. At December 31, 2022, $139 is included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.
(2)Included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.
(3)In January 2023, Triple Flag acquired all of the issued and outstanding common shares of Maverix. Refer to Note 11 for further information.
(4)Included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheets.
v3.23.3
INVESTMENTS (Tables)
 9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of investments
At September 30,
2023		At December 31,
2022
Time deposits and other investments:
Time deposits and other (1)
$— $846 
Marketable equity securities24 34 
$24 $880 
Non-current investments:
Marketable equity securities$189 $226 
Equity method investments: 
Pueblo Viejo Mine (40.0%)
$1,462 $1,435 
NuevaUnión Project (50.0%)
958 956 
Norte Abierto Project (50.0%)
524 518 
Maverix Metals, Inc. (—% and 28.5%, respectively) (2)
— 143 
2,944 3,052 
$3,133 $3,278 
Non-current restricted investments: (3)
Marketable debt securities$21 $27 
Other assets8 8 
$29 $35 
____________________________
(1)At December 31, 2022, Time deposits and other primarily includes time deposits with an original maturity of more than three months but less than one year of $829 and related accrued interest of $9. All time deposits with an original maturity of more than three months but less than one year matured as of September 30, 2023.
(2)In January 2023, Maverix was fully acquired by Triple Flag. The Company's ownership interest in the newly combined company was subsequently sold in March 2023. Refer to "Maverix Metals, Inc." below for further information.
(3)Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. Refer to Note 5 for further information regarding these amounts.
v3.23.3
INVENTORIES (Tables)
 9 Months Ended
Sep. 30, 2023
Inventory Disclosure [Abstract]  
Summary of Inventories
At September 30,
2023		At December 31,
2022
Materials and supplies$830 $750 
In-process146 123 
Concentrate79 47 
Precious metals72 59 
Inventories$1,127 $979 
v3.23.3
STOCKPILES AND ORE ON LEACH PADS (Tables)
 9 Months Ended
Sep. 30, 2023
STOCKPILES AND ORE ON LEACH PADS  
Stockpiles and Ore on Leach Pads
At September 30, 2023At December 31, 2022
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$574 $255 $829 $480 $294 $774 
Non-current1,338 402 1,740 1,391 325 1,716 
Total$1,912 $657 $2,569 $1,871 $619 $2,490 
v3.23.3
DEBT (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Minimum Debt Repayments
Scheduled minimum debt repayments are as follows:
At September 30,
2023
Year Ending December 31,
2023 (for the remainder of 2023)
$— 
2024— 
2025— 
2026— 
2027— 
Thereafter5,624 
Total face value of debt5,624 
Unamortized premiums, discounts, and issuance costs(49)
Debt$5,575 
v3.23.3
OTHER LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2023
Other Liabilities Disclosure [Abstract]  
Other Liabilities
At September 30,
2023		At December 31,
2022
Other current liabilities:
Reclamation and remediation liabilities$504 $526 
Accrued capital expenditures276 221 
Accrued operating costs266 370 
Payables to NGM (1)
69 73 
Other (2)
460 409 
$1,575 $1,599 
Other non-current liabilities:
Income and mining taxes (3)
$224 $206 
Other (4)
205 224 
$429 $430 
_________________________
(1)Primarily consists of amounts due to NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are included in Other current assets.
(2)Primarily consists of accrued royalties, the current portion of the silver streaming agreement liability, and accrued interest on debt.
(3)Primarily consists of unrecognized tax benefits, including penalties and interest.(4)Primarily consists of the non-current portion of the Norte Abierto deferred payments and operating lease liabilities.
v3.23.3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​​ (Tables)
 9 Months Ended
Sep. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Change in Accumulated Other Comprehensive Income (Loss)
Unrealized Gain (Loss) on Investment Securities, netForeign Currency Translation AdjustmentsPension and Other Post-retirement Benefit AdjustmentsUnrealized Gain (Loss) on Hedge InstrumentsTotal
Balance at December 31, 2022$(1)$126 $(27)$(69)$29 
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications(1)1 1 (25)(24)
(Gain) loss reclassified from accumulated other comprehensive income (loss)
— — (6)9 3 
Other comprehensive income (loss)(1)1 (5)(16)(21)
Balance at September 30, 2023$(2)$127 $(32)$(85)$8 
v3.23.3
NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2023
Increase (Decrease) in Operating Capital [Abstract]  
Net Change in Operating Assets and Liabilities Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:
Nine Months Ended
September 30,
20232022
Decrease (increase) in operating assets:
Trade and other receivables $291 $133 
Inventories, stockpiles and ore on leach pads (263)(148)
Other assets 45 (176)
Increase (decrease) in operating liabilities:
Accounts payable11 52 
Reclamation and remediation liabilities (191)(170)
Accrued tax liabilities(152)(307)
Other accrued liabilities(83)(196)
Net change in operating assets and liabilities$(342)$(812)
v3.23.3
BASIS OF PRESENTATION (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Jun. 30, 2022
Feb. 28, 2022
Dec. 31, 2023
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Business Acquisition [Line Items]              
Net income (loss) attributable to noncontrolling interest       $ 5 $ 7 $ 17 $ 41
Distributions to noncontrolling interests           107 140
Minera Yanacocha              
Business Acquisition [Line Items]              
Ownership interest (as a percent) 100.00%            
Disposed of by sale, not discontinued operations | Minera La Zanja              
Business Acquisition [Line Items]              
Equity method investment, ownership percentage sold   46.94%          
Contribution paid upon sale of equity method investment   $ 45          
Minera Yanacocha | Summit Global Management II V B              
Business Acquisition [Line Items]              
Proceeds from sale of stock $ 48            
Merian | Primary Beneficiary              
Business Acquisition [Line Items]              
Net income (loss) attributable to noncontrolling interest       $ (5) $ (7) $ (17) $ (41)
Minera Yanacocha | Buenaventura              
Business Acquisition [Line Items]              
Distributions to noncontrolling interests   300          
Purchase of noncontrolling interest, contingent consideration   $ 100          
Minera Yanacocha | Buenaventura              
Business Acquisition [Line Items]              
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent)   43.65%          
Minera Yanacocha | Summit Global Management II V B              
Business Acquisition [Line Items]              
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent) 5.00%            
Newcrest Mining Limited | Forecast              
Business Acquisition [Line Items]              
Dividend per share for Newcrest common stock converted (in dollars per share)     $ 1.10        
Newcrest Mining Limited | Forecast | Common Stock              
Business Acquisition [Line Items]              
Stock issued per share of Newcrest stock converted (in shares)     0.400        
Newcrest Mining Limited | Forecast | CHESS Depositary Interests              
Business Acquisition [Line Items]              
Stock issued per share of Newcrest stock converted (in shares)     0.400        
Newcrest Mining Limited | Forecast | PETS Depositary Interests              
Business Acquisition [Line Items]              
Stock issued per share of Newcrest stock converted (in shares)     0.400        
v3.23.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
$ in Millions
Oct. 13, 2023
Sep. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Unusual Risk or Uncertainty [Line Items]      
Long-lived assets   $ 24,474 $ 24,073
Total assets   38,084 $ 38,482
Conga      
Unusual Risk or Uncertainty [Line Items]      
Total assets   896  
Yanacocha      
Unusual Risk or Uncertainty [Line Items]      
Long-lived assets   1,163  
Yanacocha | Asset under Construction      
Unusual Risk or Uncertainty [Line Items]      
Long-lived assets   $ 822  
Peñasquito | Union Strike | Subsequent Event      
Unusual Risk or Uncertainty [Line Items]      
Fixed compensation payable, percentage of wages 0.60    
Contingent bonus payable, number of months in wages 2 months    
Annual salary increase, percentage 0.08    
v3.23.3
SEGMENT INFORMATION - Narrative (Details)
 9 Months Ended
Sep. 30, 2023
segment
Segment Reporting [Abstract]  
Number of reportable segments 12
Ownership interest (as a percent) 38.50%
v3.23.3
SEGMENT INFORMATION - Financial Information of Company's Segments (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Jun. 30, 2023
Sep. 30, 2023
Sep. 30, 2022
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Segment Reporting Information [Line Items]            
Sales   $ 2,493 $ 2,634   $ 7,855 $ 8,715
Costs Applicable to Sales [1]   1,371 1,545   4,396 4,688
Depreciation and Amortization   480 508   1,427 1,614
Advanced Projects, Research and Development and Exploration   131 149   324 338
Income (Loss) before Income and Mining Tax and Other Items   232 296   1,071 1,332
Capital Expenditures   652 535   1,818 1,518
Additional disclosures            
Increase (decrease) in accrued capital expenditures   48 6   72 33
Consolidated capital expenditures on a cash basis   604 529   1,746 1,485
Costs Applicable to Sales [1]   1,371 1,545   4,396 4,688
Depreciation and amortization   480 508   1,427 1,614
Operating Segments | CC&V            
Segment Reporting Information [Line Items]            
Sales   87 81   260 234
Costs Applicable to Sales   57 64   157 165
Depreciation and Amortization   6 19   19 51
Advanced Projects, Research and Development and Exploration   4 3   10 7
Income (Loss) before Income and Mining Tax and Other Items   17 (9)   65 (6)
Capital Expenditures   21 12   44 30
Additional disclosures            
Costs Applicable to Sales   57 64   157 165
Depreciation and amortization   6 19   19 51
Operating Segments | Musselwhite            
Segment Reporting Information [Line Items]            
Sales   92 74   255 207
Costs Applicable to Sales   50 47   163 143
Depreciation and Amortization   21 19   58 55
Advanced Projects, Research and Development and Exploration   2 2   7 5
Income (Loss) before Income and Mining Tax and Other Items   19 7   23 4
Capital Expenditures   29 15   74 33
Additional disclosures            
Costs Applicable to Sales   50 47   163 143
Depreciation and amortization   21 19   58 55
Operating Segments | Porcupine            
Segment Reporting Information [Line Items]            
Sales   118 127   366 366
Costs Applicable to Sales   73 72   220 209
Depreciation and Amortization   29 26   85 73
Advanced Projects, Research and Development and Exploration   5 4   15 11
Income (Loss) before Income and Mining Tax and Other Items   8 31   35 76
Capital Expenditures   37 36   95 112
Additional disclosures            
Costs Applicable to Sales   73 72   220 209
Depreciation and amortization   29 26   85 73
Operating Segments | Éléonore            
Segment Reporting Information [Line Items]            
Sales   91 94   320 275
Costs Applicable to Sales $ 6 63 64   212 197
Depreciation and Amortization 2 22 28   73 84
Advanced Projects, Research and Development and Exploration   3 0   6 1
Income (Loss) before Income and Mining Tax and Other Items   3 7   27 (7)
Capital Expenditures   29 19   74 42
Additional disclosures            
Costs Applicable to Sales 6 63 64   212 197
Depreciation and amortization $ 2 22 28   73 84
Operating Segments | Peñasquito            
Segment Reporting Information [Line Items]            
Sales   1 464   693 1,616
Costs Applicable to Sales   64 273   579 970
Depreciation and Amortization   53 91   220 325
Advanced Projects, Research and Development and Exploration   3 5   9 16
Income (Loss) before Income and Mining Tax and Other Items   (128) 89   (163) 286
Capital Expenditures   9 44   81 132
Additional disclosures            
Costs Applicable to Sales   64 273   579 970
Depreciation and amortization   53 91   220 325
Operating Segments | Peñasquito | Union Strike            
Segment Reporting Information [Line Items]            
Costs Applicable to Sales   78     101  
Depreciation and Amortization   53     68  
Additional disclosures            
Costs Applicable to Sales   78     101  
Depreciation and amortization   53     68  
Operating Segments | Peñasquito | Profit-Sharing Agreement            
Segment Reporting Information [Line Items]            
Costs Applicable to Sales       $ 70    
Additional disclosures            
Costs Applicable to Sales       $ 70    
Operating Segments | Peñasquito | Gold            
Segment Reporting Information [Line Items]            
Sales   (2) 228   203 710
Costs Applicable to Sales   16 109   123 323
Depreciation and Amortization   12 38   47 111
Additional disclosures            
Costs Applicable to Sales   16 109   123 323
Depreciation and amortization   12 38   47 111
Operating Segments | Peñasquito | Silver            
Segment Reporting Information [Line Items]            
Sales   5 105   246 401
Costs Applicable to Sales   23 85   200 337
Depreciation and Amortization   19 29   78 115
Additional disclosures            
Costs Applicable to Sales   23 85   200 337
Depreciation and amortization   19 29   78 115
Operating Segments | Peñasquito | Lead            
Segment Reporting Information [Line Items]            
Sales   0 26   64 98
Costs Applicable to Sales   7 15   62 66
Depreciation and Amortization   6 5   25 23
Additional disclosures            
Costs Applicable to Sales   7 15   62 66
Depreciation and amortization   6 5   25 23
Operating Segments | Peñasquito | Zinc            
Segment Reporting Information [Line Items]            
Sales   (2) 105   180 407
Costs Applicable to Sales   18 64   194 244
Depreciation and Amortization   16 19   70 76
Additional disclosures            
Costs Applicable to Sales   18 64   194 244
Depreciation and amortization   16 19   70 76
Operating Segments | Merian            
Segment Reporting Information [Line Items]            
Sales   160 145   423 518
Costs Applicable to Sales   104 89   269 270
Depreciation and Amortization   23 19   56 61
Advanced Projects, Research and Development and Exploration   9 8   17 17
Income (Loss) before Income and Mining Tax and Other Items   24 31   80 170
Capital Expenditures   26 13   61 37
Additional disclosures            
Costs Applicable to Sales   104 89   269 270
Depreciation and amortization   23 19   56 61
Operating Segments | Cerro Negro            
Segment Reporting Information [Line Items]            
Sales   124 114   340 381
Costs Applicable to Sales   79 71   232 205
Depreciation and Amortization   34 32   99 113
Advanced Projects, Research and Development and Exploration   3 8   6 15
Income (Loss) before Income and Mining Tax and Other Items   (1) (8)   (25) 15
Capital Expenditures   44 36   118 96
Additional disclosures            
Costs Applicable to Sales   79 71   232 205
Depreciation and amortization   34 32   99 113
Operating Segments | Yanacocha            
Segment Reporting Information [Line Items]            
Sales   162 90   394 345
Costs Applicable to Sales   90 74   225 214
Depreciation and Amortization   27 21   65 67
Advanced Projects, Research and Development and Exploration   0 5   9 11
Income (Loss) before Income and Mining Tax and Other Items   15 (39)   6 (26)
Capital Expenditures   81 112   209 258
Additional disclosures            
Costs Applicable to Sales   90 74   225 214
Depreciation and amortization   27 21   65 67
Operating Segments | Boddington            
Segment Reporting Information [Line Items]            
Sales   440 331   1,407 1,316
Costs Applicable to Sales   207 184   634 622
Depreciation and Amortization   36 35   109 113
Advanced Projects, Research and Development and Exploration   1 1   4 4
Income (Loss) before Income and Mining Tax and Other Items   198 121   657 599
Capital Expenditures   54 23   128 58
Additional disclosures            
Costs Applicable to Sales   207 184   634 622
Depreciation and amortization   36 35   109 113
Operating Segments | Boddington | Gold            
Segment Reporting Information [Line Items]            
Sales   350 283   1,125 1,093
Costs Applicable to Sales   157 148   483 491
Depreciation and Amortization   28 28   83 89
Additional disclosures            
Costs Applicable to Sales   157 148   483 491
Depreciation and amortization   28 28   83 89
Operating Segments | Boddington | Copper            
Segment Reporting Information [Line Items]            
Sales   90 48   282 223
Costs Applicable to Sales   50 36   151 131
Depreciation and Amortization   8 7   26 24
Additional disclosures            
Costs Applicable to Sales   50 36   151 131
Depreciation and amortization   8 7   26 24
Operating Segments | Tanami            
Segment Reporting Information [Line Items]            
Sales   238 220   605 655
Costs Applicable to Sales   81 81   244 230
Depreciation and Amortization   30 26   80 74
Advanced Projects, Research and Development and Exploration   7 8   20 21
Income (Loss) before Income and Mining Tax and Other Items   157 122   297 353
Capital Expenditures   98 78   287 256
Additional disclosures            
Costs Applicable to Sales   81 81   244 230
Depreciation and amortization   30 26   80 74
Operating Segments | Ahafo            
Segment Reporting Information [Line Items]            
Sales   265 263   777 718
Costs Applicable to Sales   133 155   384 390
Depreciation and Amortization   47 43   128 116
Advanced Projects, Research and Development and Exploration   12 7   28 18
Income (Loss) before Income and Mining Tax and Other Items   82 59   244 201
Capital Expenditures   73 52   240 189
Additional disclosures            
Costs Applicable to Sales   133 155   384 390
Depreciation and amortization   47 43   128 116
Operating Segments | Akyem            
Segment Reporting Information [Line Items]            
Sales   135 174   381 546
Costs Applicable to Sales   72 77   189 220
Depreciation and Amortization   31 32   86 95
Advanced Projects, Research and Development and Exploration   6 4   14 12
Income (Loss) before Income and Mining Tax and Other Items   24 58   85 214
Capital Expenditures   9 7   31 27
Additional disclosures            
Costs Applicable to Sales   72 77   189 220
Depreciation and amortization   31 32   86 95
Operating Segments | NGM            
Segment Reporting Information [Line Items]            
Sales   580 457   1,634 1,538
Costs Applicable to Sales   298 294   888 853
Depreciation and Amortization   112 109   323 361
Advanced Projects, Research and Development and Exploration   8 9   25 24
Income (Loss) before Income and Mining Tax and Other Items   151 49   376 293
Capital Expenditures   132 75   339 213
Additional disclosures            
Costs Applicable to Sales   298 294   888 853
Depreciation and amortization   112 109   323 361
Corporate and Other            
Segment Reporting Information [Line Items]            
Sales   0 0   0 0
Costs Applicable to Sales   0 0   0 0
Depreciation and Amortization   9 8   26 26
Advanced Projects, Research and Development and Exploration   68 85   154 176
Income (Loss) before Income and Mining Tax and Other Items   (337) (222)   (636) (840)
Capital Expenditures   10 13   37 35
Additional disclosures            
Costs Applicable to Sales   0 0   0 0
Depreciation and amortization   $ 9 $ 8   $ 26 $ 26
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.23.3
SALES - Schedule of sales by mining operation, product and inventory type (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
SALES        
Sales $ 2,493,000,000 $ 2,634,000,000 $ 7,855,000,000 $ 8,715,000,000
Gold Sales from Doré Production        
SALES        
Sales 2,117,000,000 1,922,000,000 5,997,000,000 6,085,000,000
Sales from Concentrate and Other Production        
SALES        
Sales 376,000,000 712,000,000 1,858,000,000 2,630,000,000
Operating Segments | CC&V        
SALES        
Sales 87,000,000 81,000,000 260,000,000 234,000,000
Operating Segments | CC&V | Gold Sales from Doré Production        
SALES        
Sales 87,000,000 81,000,000 260,000,000 229,000,000
Operating Segments | CC&V | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 5,000,000
Operating Segments | Musselwhite        
SALES        
Sales 92,000,000 74,000,000 255,000,000 207,000,000
Operating Segments | Musselwhite | Gold Sales from Doré Production        
SALES        
Sales 92,000,000 74,000,000 255,000,000 207,000,000
Operating Segments | Musselwhite | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | Porcupine        
SALES        
Sales 118,000,000 127,000,000 366,000,000 366,000,000
Operating Segments | Porcupine | Gold Sales from Doré Production        
SALES        
Sales 118,000,000 127,000,000 366,000,000 366,000,000
Operating Segments | Porcupine | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | Éléonore        
SALES        
Sales 91,000,000 94,000,000 320,000,000 275,000,000
Operating Segments | Éléonore | Gold Sales from Doré Production        
SALES        
Sales 91,000,000 94,000,000 320,000,000 275,000,000
Operating Segments | Éléonore | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | Peñasquito        
SALES        
Sales 1,000,000 464,000,000 693,000,000 1,616,000,000
Operating Segments | Peñasquito | Gold Sales from Doré Production        
SALES        
Sales 0 23,000,000 34,000,000 79,000,000
Operating Segments | Peñasquito | Sales from Concentrate and Other Production        
SALES        
Sales 1,000,000 441,000,000 659,000,000 1,537,000,000
Operating Segments | Peñasquito | Penasquito Gold        
SALES        
Sales (2,000,000) 228,000,000 203,000,000 710,000,000
Operating Segments | Peñasquito | Penasquito Gold | Gold Sales from Doré Production        
SALES        
Sales 0 23,000,000 34,000,000 79,000,000
Operating Segments | Peñasquito | Penasquito Gold | Sales from Concentrate and Other Production        
SALES        
Sales (2,000,000) 205,000,000 169,000,000 631,000,000
Operating Segments | Peñasquito | Pensaquito Silver        
SALES        
Sales 5,000,000 105,000,000 246,000,000 401,000,000
Operating Segments | Peñasquito | Pensaquito Silver | Gold Sales from Doré Production        
SALES        
Sales 0 0 0 0
Operating Segments | Peñasquito | Pensaquito Silver | Sales from Concentrate and Other Production        
SALES        
Sales 5,000,000 105,000,000 246,000,000 401,000,000
Operating Segments | Peñasquito | Pensaquito Silver | Silver streaming agreement        
SALES        
Sales 0 17,000,000 31,000,000 56,000,000
Operating Segments | Peñasquito | Penasquito Lead        
SALES        
Sales 0 26,000,000 64,000,000 98,000,000
Operating Segments | Peñasquito | Penasquito Lead | Gold Sales from Doré Production        
SALES        
Sales 0 0 0 0
Operating Segments | Peñasquito | Penasquito Lead | Sales from Concentrate and Other Production        
SALES        
Sales 0 26,000,000 64,000,000 98,000,000
Operating Segments | Peñasquito | Penasquito Zinc        
SALES        
Sales (2,000,000) 105,000,000 180,000,000 407,000,000
Operating Segments | Peñasquito | Penasquito Zinc | Gold Sales from Doré Production        
SALES        
Sales 0 0 0 0
Operating Segments | Peñasquito | Penasquito Zinc | Sales from Concentrate and Other Production        
SALES        
Sales (2,000,000) 105,000,000 180,000,000 407,000,000
Operating Segments | Merian        
SALES        
Sales 160,000,000 145,000,000 423,000,000 518,000,000
Operating Segments | Merian | Gold Sales from Doré Production        
SALES        
Sales 160,000,000 145,000,000 423,000,000 518,000,000
Operating Segments | Merian | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | Cerro Negro        
SALES        
Sales 124,000,000 114,000,000 340,000,000 381,000,000
Operating Segments | Cerro Negro | Gold Sales from Doré Production        
SALES        
Sales 124,000,000 114,000,000 340,000,000 381,000,000
Operating Segments | Cerro Negro | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | Yanacocha        
SALES        
Sales 162,000,000 90,000,000 394,000,000 345,000,000
Operating Segments | Yanacocha | Gold Sales from Doré Production        
SALES        
Sales 162,000,000 90,000,000 386,000,000 346,000,000
Operating Segments | Yanacocha | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 8,000,000 (1,000,000)
Operating Segments | Boddington        
SALES        
Sales 440,000,000 331,000,000 1,407,000,000 1,316,000,000
Operating Segments | Boddington | Gold Sales from Doré Production        
SALES        
Sales 86,000,000 78,000,000 279,000,000 276,000,000
Operating Segments | Boddington | Sales from Concentrate and Other Production        
SALES        
Sales 354,000,000 253,000,000 1,128,000,000 1,040,000,000
Operating Segments | Boddington | Boddington Gold        
SALES        
Sales 350,000,000 283,000,000 1,125,000,000 1,093,000,000
Operating Segments | Boddington | Boddington Gold | Gold Sales from Doré Production        
SALES        
Sales 86,000,000 78,000,000 279,000,000 276,000,000
Operating Segments | Boddington | Boddington Gold | Sales from Concentrate and Other Production        
SALES        
Sales 264,000,000 205,000,000 846,000,000 817,000,000
Operating Segments | Boddington | Boddington Copper        
SALES        
Sales 90,000,000 48,000,000 282,000,000 223,000,000
Operating Segments | Boddington | Boddington Copper | Gold Sales from Doré Production        
SALES        
Sales 0 0 0 0
Operating Segments | Boddington | Boddington Copper | Sales from Concentrate and Other Production        
SALES        
Sales 90,000,000 48,000,000 282,000,000 223,000,000
Operating Segments | Tanami        
SALES        
Sales 238,000,000 220,000,000 605,000,000 655,000,000
Operating Segments | Tanami | Gold Sales from Doré Production        
SALES        
Sales 238,000,000 220,000,000 605,000,000 655,000,000
Operating Segments | Tanami | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | Ahafo        
SALES        
Sales 265,000,000 263,000,000 777,000,000 718,000,000
Operating Segments | Ahafo | Gold Sales from Doré Production        
SALES        
Sales 265,000,000 263,000,000 777,000,000 718,000,000
Operating Segments | Ahafo | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | Akyem        
SALES        
Sales 135,000,000 174,000,000 381,000,000 546,000,000
Operating Segments | Akyem | Gold Sales from Doré Production        
SALES        
Sales 135,000,000 174,000,000 381,000,000 546,000,000
Operating Segments | Akyem | Sales from Concentrate and Other Production        
SALES        
Sales 0 0 0 0
Operating Segments | NGM        
SALES        
Sales 580,000,000 457,000,000 1,634,000,000 1,538,000,000
Operating Segments | NGM | Gold Sales from Doré Production        
SALES        
Sales 559,000,000 439,000,000 1,571,000,000 1,489,000,000
Operating Segments | NGM | Sales from Concentrate and Other Production        
SALES        
Sales 21,000,000 18,000,000 63,000,000 49,000,000
Eliminations | NGM        
SALES        
Sales $ 556,000,000 $ 434,000,000 $ 1,568,000,000 $ 1,485,000,000
v3.23.3
SALES - Provisional Sales (Details)
oz in Thousands, lb in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
USD ($)
lb
oz
$ / oz
$ / lb
Sep. 30, 2022
USD ($)
Sep. 30, 2023
USD ($)
lb
oz
$ / oz
$ / lb
Sep. 30, 2022
USD ($)
Revenue from Contract with Customer [Abstract]        
Increase (decrease) to sales from provisional pricing mark-to-market | $ $ 0 $ (39,000,000) $ 0 $ (86,000,000)
Gold        
SALES        
Provisionally priced sales subject to final pricing (in ounces or pounds) | oz 76   76  
Average provisional price (in dollars per ounce or pound) | $ / oz 1,851   1,851  
Copper        
SALES        
Provisionally priced sales subject to final pricing (in ounces or pounds) | lb 34   34  
Average provisional price (in dollars per ounce or pound) | $ / lb 3.75   3.75  
Silver        
SALES        
Provisionally priced sales subject to final pricing (in ounces or pounds) | oz 48   48  
Average provisional price (in dollars per ounce or pound) | $ / oz 22.22   22.22  
Lead        
SALES        
Provisionally priced sales subject to final pricing (in ounces or pounds) | lb 0   0  
Average provisional price (in dollars per ounce or pound) | $ / lb 0   0  
Zinc        
SALES        
Provisionally priced sales subject to final pricing (in ounces or pounds) | lb 10   10  
Average provisional price (in dollars per ounce or pound) | $ / lb 1.20   1.20  
v3.23.3
RECLAMATION AND REMEDIATION - Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Reclamation and remediation expense        
Reclamation adjustments and other $ 53 $ 7    
Reclamation accretion 60 43 $ 179 $ 129
Reclamation expense 113 50    
Remediation adjustments and other 51 1    
Remediation accretion 2 2 6 5
Remediation expense 53 3    
Reclamation and remediation $ 166 $ 53 298 163
Reclamation and remediation        
Reclamation and remediation expense        
Reclamation adjustments and other     61 9
Reclamation accretion     179 129
Reclamation expense     240 138
Remediation adjustments and other     52 20
Remediation accretion     6 5
Remediation expense     $ 58 $ 25
v3.23.3
RECLAMATION AND REMEDIATION - Reconciliation of Obligation (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Change in reclamation liability        
Balance at beginning of period     $ 6,731 $ 5,768
Additions, changes in estimates and other     75 9
Payments, net     (163) (128)
Accretion expense  $ 60 $ 43 179 129
Balance at end of period 6,822 5,778 6,822 5,778
Change in remediation liability        
Balance at beginning of period     373 344
Additions, changes in estimates and other     45 13
Payments, net     (28) (42)
Accretion expense  2 2 6 5
Balance at end of period $ 396 $ 320 $ 396 $ 320
v3.23.3
RECLAMATION AND REMEDIATION - Liability Classifications (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
Dec. 31, 2021
Reclamation and remediation expense        
Reclamation liabilities, current $ 460 $ 482    
Reclamation liabilities, non-current 6,362 6,249    
Reclamation obligations, operating properties 6,822 6,731 $ 5,778 $ 5,768
Remediation liabilities, current 44 44    
Remediation liabilities, non-current 352 329    
Total remediation liabilities 396 373 $ 320 $ 344
Total reclamation and remediation liabilities, current 504 526    
Total reclamation and remediation liabilities, non-current 6,714 6,578    
Total reclamation and remediation liabilities 7,218 7,104    
Minera Yanacocha        
Reclamation and remediation expense        
Reclamation obligations, operating properties $ 3,685 $ 3,722    
v3.23.3
RECLAMATION AND REMEDIATION - Narrative (Details) - Other Noncurrent Assets - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Reclamation and remediation expense    
Asset retirement obligation restricted assets $ 66 $ 62
Marketable equity securities | Yanacocha    
Reclamation and remediation expense    
Asset retirement obligation restricted assets $ 29 $ 35
v3.23.3
OTHER EXPENSE, NET (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating Costs and Expenses [Abstract]        
Newcrest transaction-related costs $ 16 $ 0 $ 37 $ 0
Restructuring and severance 7 2 19 3
Impairment charges 2 1 10 3
Settlement costs 2 2 2 20
COVID-19 specific costs 0 6 0 33
Other 10 0 18 9
Other expense, net $ 37 $ 11 $ 86 $ 68
v3.23.3
OTHER INCOME (LOSS), NET (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Other Income, Net [Line Items]          
Interest income $ 35 $ 27   $ 108 $ 43
Change in fair value of investments (41) 5   (42) (91)
Insurance proceeds 37 0   37 8
Foreign currency exchange, net 10 10   (12) 38
Pension settlement 0 0   0 (130)
Other 3 5   (1) 30
Other income (loss), net 42 56   124 (128)
Pension Plan          
Other Income, Net [Line Items]          
Pension settlement     $ (130)    
Ahafo          
Other Income, Net [Line Items]          
Insurance proceeds 11        
Ahafo | Other income, net          
Other Income, Net [Line Items]          
Insurance proceeds 6        
Tanami          
Other Income, Net [Line Items]          
Insurance proceeds 45        
Tanami | Other income, net          
Other Income, Net [Line Items]          
Insurance proceeds 31        
Disposed of by sale, not discontinued operations          
Other Income, Net [Line Items]          
Gain (loss) on asset and investment sales, net $ (2) $ 9   $ 34 $ (26)
v3.23.3
INCOME AND MINING TAXES - Reconciliation Of U.S. Federal Statutory Tax Rate To Company’s Effective Income Tax Rate (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Reconciling item, percentage          
U.S. federal statutory tax rate 21.00% 21.00%   21.00% 21.00%
Percentage depletion (6.00%) (4.00%)   (4.00%) (3.00%)
Change in valuation allowance on deferred tax assets 30.00% 6.00%   12.00% 5.00%
Foreign rate differential 6.00% 10.00%   8.00% 11.00%
Effect of foreign earnings, net of credits 0.06 0   0.02 0.02
Mining and other taxes (net of associated federal benefit) 4.00% 5.00%   5.00% 6.00%
Tax impact of foreign exchange (32.00%) (7.00%)   (5.00%) (4.00%)
Mexico Tax Settlement 0.00% 0.00%   0.00% (9.00%)
Other 2.00% 2.00%   3.00% (3.00%)
Income and mining tax expense (benefit) 31.00% 33.00%   42.00% 26.00%
Reconciling item, amount          
Income (loss) before income and mining tax and other items $ 232 $ 296   $ 1,071 $ 1,332
U.S. federal statutory tax rate 49 61   225 279
Percentage depletion (13) (13)   (40) (43)
Change in valuation allowance on deferred tax assets 69 19   126 68
Foreign rate differential 13 29   88 148
Effect of foreign earnings, net of credits 13 1   25 20
Mining and other taxes (net of associated federal benefit) 9 16   58 75
Tax impact of foreign exchange (72) (22)   (52) (48)
Mexico Tax Settlement 0 0   0 (125)
Other 5 5   19 (31)
Income and mining tax expense (benefit) 73 96   449 343
Income Tax Contingency [Line Items]          
Income and mining tax expense (benefit) $ 73 $ 96   $ 449 $ 343
Mexican Tax Authority          
Reconciling item, amount          
Income and mining tax expense (benefit)     $ (125)    
Income Tax Contingency [Line Items]          
Income and mining tax expense (benefit)     (125)    
Increase (decrease) in related uncertain tax position     $ 95    
v3.23.3
FAIR VALUE ACCOUNTING - Recurring Basis (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Carrying value    
Liabilities:    
Debt $ 5,575 $ 5,571
Contingent consideration liabilities 5 3
Level 3    
Assets:    
Long-lived assets   25
Contingent consideration assets (Note 10) 195 188
Liabilities:    
Contingent consideration liabilities 5 3
Recurring    
Assets:    
Cash and cash equivalents 3,190 2,877
Restricted cash 74 67
Time deposits and other (Note 11)   846
Long-lived assets   25
Contingent consideration assets (Note 10) 195 188
Derivative assets   20
Total assets 3,779 4,682
Liabilities:    
Debt 4,981 5,136
Contingent consideration liabilities 5 3
Derivative liabilities 13  
Total liabilities 4,999 5,139
Recurring | Level 1    
Assets:    
Cash and cash equivalents 3,190 2,877
Restricted cash 74 67
Time deposits and other (Note 11)   0
Long-lived assets   0
Contingent consideration assets (Note 10) 0 0
Derivative assets   0
Total assets 3,499 3,225
Liabilities:    
Debt 0 0
Contingent consideration liabilities 0 0
Derivative liabilities 0  
Total liabilities 0 0
Recurring | Level 2    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Time deposits and other (Note 11)   846
Long-lived assets   0
Contingent consideration assets (Note 10) 0 0
Derivative assets   20
Total assets 85 1,244
Liabilities:    
Debt 4,981 5,136
Contingent consideration liabilities 0 0
Derivative liabilities 13  
Total liabilities 4,994 5,136
Recurring | Level 3    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Time deposits and other (Note 11)   0
Long-lived assets   25
Contingent consideration assets (Note 10) 195 188
Derivative assets   0
Total assets 195 213
Liabilities:    
Debt 0 0
Contingent consideration liabilities 5 3
Derivative liabilities 0  
Total liabilities 5 3
Recurring | Trade receivable from provisional sales, net     
Assets:    
Trade receivable from provisional sales, net  78 364
Recurring | Trade receivable from provisional sales, net  | Level 1    
Assets:    
Trade receivable from provisional sales, net  0 0
Recurring | Trade receivable from provisional sales, net  | Level 2    
Assets:    
Trade receivable from provisional sales, net  78 364
Recurring | Trade receivable from provisional sales, net  | Level 3    
Assets:    
Trade receivable from provisional sales, net  0 0
Recurring | Marketable and other equity securities    
Assets:    
Marketable equity securities (Note 11) 213 260
Recurring | Marketable and other equity securities | Level 1    
Assets:    
Marketable equity securities (Note 11) 207 250
Recurring | Marketable and other equity securities | Level 2    
Assets:    
Marketable equity securities (Note 11) 6 10
Recurring | Marketable and other equity securities | Level 3    
Assets:    
Marketable equity securities (Note 11) 0 0
Recurring | Restricted marketable debt securities    
Assets:    
Restricted investments 21 27
Recurring | Restricted marketable debt securities | Level 1    
Assets:    
Restricted investments 20 23
Recurring | Restricted marketable debt securities | Level 2    
Assets:    
Restricted investments 1 4
Recurring | Restricted marketable debt securities | Level 3    
Assets:    
Restricted investments 0 0
Recurring | Restricted other assets    
Assets:    
Restricted investments 8 8
Recurring | Restricted other assets | Level 1    
Assets:    
Restricted investments 8 8
Recurring | Restricted other assets | Level 2    
Assets:    
Restricted investments 0 0
Recurring | Restricted other assets | Level 3    
Assets:    
Restricted investments $ 0 $ 0
v3.23.3
FAIR VALUE ACCOUNTING - Quantitative Information (Details)
$ in Millions
Sep. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
$ / oz
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration liabilities $ 5 $ 3
CC&V    
Quantitative and Qualitative Information - Unobservable Inputs    
Property, plant, and mine development, net   $ 25
Valuation, Income Approach | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Long-lived and other assets, measurement input   0.0675
Valuation, Income Approach | Measurement Input, Short-Term Gold Price    
Quantitative and Qualitative Information - Unobservable Inputs    
Long-lived and other assets, measurement input | $ / oz   1,750
Valuation, Income Approach | Measurement Input, Long-Term Gold Price    
Quantitative and Qualitative Information - Unobservable Inputs    
Long-lived and other assets, measurement input | $ / oz   1,600
Level 3    
Quantitative and Qualitative Information - Unobservable Inputs    
Long-lived assets   $ 25
Contingent consideration assets 195 188
Contingent consideration liabilities $ 5 $ 3
Level 3 | Monte Carlo | Minimum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration assets, measurement input 8.76% 8.75%
Level 3 | Monte Carlo | Maximum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration assets, measurement input 29.59% 29.59%
Level 3 | Discounted cash flow | Minimum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration liabilities, measurement input 0.0556 0.0556
Level 3 | Discounted cash flow | Maximum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration liabilities, measurement input 0.0708 0.0708
Level 3 | Discounted cash flow | Weighted Average | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration assets, measurement input 11.87% 11.86%
Contingent consideration liabilities, measurement input 0.0647 0.0607
v3.23.3
FAIR VALUE ACCOUNTING - Changes in the Fair Value of Level 3 Financial Assets and Liabilities (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Summary of changes in Level 3 financial assets    
Fair value, beginning of period $ 188 $ 171
Revaluation 7 (2)
Fair value, end of period 195 169
Summary of changes in Level 3 financial liabilities    
Fair value, beginning of period 3 5
Revaluation 2 0
Fair value, end of period 5 5
Other income, net    
Summary of changes in Level 3 financial assets    
Revaluation (2) (6)
Income (Loss) From Discontinued Operations    
Summary of changes in Level 3 financial assets    
Revaluation 9 4
Contingent Consideration Liabilities (2)    
Summary of changes in Level 3 financial liabilities    
Fair value, beginning of period 3 5
Revaluation 2 0
Fair value, end of period 5 5
Contingent consideration assets    
Summary of changes in Level 3 financial assets    
Fair value, beginning of period 188 171
Revaluation 7 (2)
Fair value, end of period $ 195 $ 169
v3.23.3
DERIVATIVES INSTRUMENTS - Narrative (Details)
$ in Millions, $ in Millions
May 31, 2023
CAD ($)
May 31, 2023
AUD ($)
Oct. 31, 2022
AUD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]      
Derivative notional amount $ 348 $ 648 $ 574
v3.23.3
DERIVATIVES INSTRUMENTS - Fair Values of Instruments Designated as Hedges (Details) - Designated Hedge - Cash Flow Hedges - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivative contracts    
Derivative assets $ 0 $ 20
Derivative liabilities 13 0
Other Current Assets    
Derivative contracts    
Derivative assets 0 12
Other Noncurrent Assets    
Derivative contracts    
Derivative assets 0 8
Other Current Liabilities    
Derivative contracts    
Derivative liabilities $ 13 $ 0
v3.23.3
DERIVATIVES INSTRUMENTS - Gain (Loss) on Derivatives (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Derivative contracts        
Gain (loss) on derivatives $ 8 $ 1 $ 12 $ 3
Foreign Exchange Contract        
Derivative contracts        
Gain (loss) on derivatives 6 0 8 0
Interest Rate Contract        
Derivative contracts        
Gain (loss) on derivatives $ 2 $ 1 $ 4 $ 3
v3.23.3
DERIVATIVES INSTRUMENTS - Contingent Consideration (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivative contracts    
Contingent consideration assets $ 195 $ 188
Contingent consideration liabilities 5 3
Batu Hijau and Elang    
Derivative contracts    
Contingent consideration assets 148 139
Batu Hijau and Elang | Other Current Assets    
Derivative contracts    
Contingent consideration assets 70  
Batu Hijau and Elang | Other Noncurrent Assets    
Derivative contracts    
Contingent consideration assets 78  
Red Lake    
Derivative contracts    
Contingent consideration assets 37 39
Cerro Blanco    
Derivative contracts    
Contingent consideration assets 5 5
Triple Flag (previously Maverix)    
Derivative contracts    
Contingent consideration assets 4 4
Other Counterparty    
Derivative contracts    
Contingent consideration assets 1 1
Norte Abierto    
Derivative contracts    
Contingent consideration liabilities 3 1
Galore Creek    
Derivative contracts    
Contingent consideration liabilities $ 2 $ 2
v3.23.3
INVESTMENTS (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Jan. 31, 2023
Dec. 31, 2022
Investments      
Total short-term investments $ 24   $ 880
Total equity method investments 3,133   3,278
Non-current restricted investments $ 29   35
Time deposits, maturity of more than three months but less than one year     829
Interest receivable     9
Pueblo Viejo Mine      
Investments      
Ownership interest (as a percent) 40.00%    
Interest receivable $ 5   $ 8
Nueva Union Project      
Investments      
Ownership interest (as a percent) 50.00%    
Norte Abierto Project      
Investments      
Ownership interest (as a percent) 50.00%    
Maverix      
Investments      
Ownership interest (as a percent) 0.00% 28.50% 28.50%
Restricted marketable debt securities      
Investments      
Non-current restricted investments $ 21   $ 27
Restricted other assets      
Investments      
Non-current restricted investments 8   8
Investments - current      
Investments      
Time deposits and other 0   846
Marketable equity securities, current 24   34
Total short-term investments 24   880
Investments - noncurrent      
Investments      
Marketable equity securities, noncurrent 189   226
Equity method investments 2,944   3,052
Total equity method investments 3,133   3,278
Investments - noncurrent | Pueblo Viejo Mine      
Investments      
Equity method investments 1,462   1,435
Investments - noncurrent | Nueva Union Project      
Investments      
Equity method investments 958   956
Investments - noncurrent | Norte Abierto Project      
Investments      
Equity method investments 524   518
Investments - noncurrent | Maverix      
Investments      
Equity method investments $ 0   $ 143
v3.23.3
INVESTMENTS - Narrative (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Jan. 31, 2023
Dec. 31, 2022
Investments                
Equity income (loss) of affiliates $ 3,000,000     $ 25,000,000 $ 44,000,000 $ 81,000,000    
Interest receivable               $ 9,000,000
Related Party | Pueblo Viejo Mine                
Investments                
Due to related parties 0       0     0
Due from related parties 0       0     0
Pueblo Viejo Revolving Facility                
Investments                
Credit facility, amount outstanding 0       0      
Pueblo Viejo Mine                
Investments                
Equity income (loss) of affiliates 10,000,000     26,000,000 46,000,000 84,000,000    
Share of loans included in investment 403,000,000       403,000,000     356,000,000
Interest receivable $ 5,000,000       $ 5,000,000     $ 8,000,000
Ownership interest (as a percent) 40.00%       40.00%      
Purchases $ 105,000,000     $ 146,000,000 $ 326,000,000 $ 413,000,000    
Maverix                
Investments                
Ownership interest (as a percent) 0.00%       0.00%   28.50% 28.50%
Gain on sale of equity method investment   $ 0 $ 36,000,000          
Triple Flag                
Investments                
Ownership interest (as a percent)             7.50%  
v3.23.3
INVENTORIES (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Inventory, net    
Materials and supplies $ 830 $ 750
In-process 146 123
Concentrate 79 47
Precious metals 72 59
Inventories $ 1,127 $ 979
v3.23.3
STOCKPILES AND ORE ON LEACH PADS - Schedule (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Stockpiles And Ore On Leach Pads    
Current stockpiles and ore on leach pads $ 829 $ 774
Non-current stockpiles and ore on leach pads 1,740 1,716
Stockpiles and ore on leach pads 2,569 2,490
Stockpiles    
Stockpiles And Ore On Leach Pads    
Current stockpiles and ore on leach pads 574 480
Non-current stockpiles and ore on leach pads 1,338 1,391
Stockpiles and ore on leach pads 1,912 1,871
Ore on Leach Pads    
Stockpiles And Ore On Leach Pads    
Current stockpiles and ore on leach pads 255 294
Non-current stockpiles and ore on leach pads 402 325
Stockpiles and ore on leach pads $ 657 $ 619
v3.23.3
DEBT - Minimum Debt Repayments (Details)
$ in Millions
Sep. 30, 2023
USD ($)
Scheduled minimum debt repayments  
2023 (for the remainder of 2023) $ 0
2024 0
2025 0
2026 0
2027 0
Thereafter 5,624
Total face value of debt 5,624
Unamortized premiums, discounts, and issuance costs (49)
Net carrying amount $ 5,575
v3.23.3
OTHER LIABILITIES (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Other current liabilities:    
Reclamation and remediation liabilities $ 504 $ 526
Accrued capital expenditures 276 221
Accrued operating costs 266 370
Other 460 409
Other current liabilities 1,575 1,599
Other non-current liabilities:    
Income and mining taxes 224 206
Other 205 224
Other long-term liabilities, total 429 430
NGM    
Other current liabilities:    
Payables to NGM $ 69 $ 73
NGM    
Other non-current liabilities:    
Ownership interest (as a percent) 38.50% 38.50%
Barrick Gold Corporation | NGM    
Other non-current liabilities:    
Ownership interest (as a percent) 61.50% 61.50%
v3.23.3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ - Components of AOCI (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Balance at beginning of period $ 19,415 $ 19,559 $ 19,533 $ 21,599 $ 21,631 $ 21,813 $ 19,533 $ 21,813
Gain (loss) in other comprehensive income (loss) before reclassifications             (24)  
(Gain) loss reclassified from accumulated other comprehensive income (loss)             3  
Other comprehensive income (loss) (5) (10) (6) 4 1 121 (21) 126
Balance at end of period 19,260 $ 19,415 19,559 $ 21,400 $ 21,599 $ 21,631 19,260 $ 21,400
Total                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Balance at beginning of period     29       29  
Balance at end of period 8           8  
Unrealized Gain (Loss) on Investment Securities, net                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Balance at beginning of period     (1)       (1)  
Gain (loss) in other comprehensive income (loss) before reclassifications             (1)  
(Gain) loss reclassified from accumulated other comprehensive income (loss)             0  
Other comprehensive income (loss)             (1)  
Balance at end of period (2)           (2)  
Foreign Currency Translation Adjustments                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Balance at beginning of period     126       126  
Gain (loss) in other comprehensive income (loss) before reclassifications             1  
(Gain) loss reclassified from accumulated other comprehensive income (loss)             0  
Other comprehensive income (loss)             1  
Balance at end of period 127           127  
Pension and Other Post-retirement Benefit Adjustments                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Balance at beginning of period     (27)       (27)  
Gain (loss) in other comprehensive income (loss) before reclassifications             1  
(Gain) loss reclassified from accumulated other comprehensive income (loss)             (6)  
Other comprehensive income (loss)             (5)  
Balance at end of period (32)           (32)  
Unrealized Gain (Loss) on Hedge Instruments                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Balance at beginning of period     $ (69)       (69)  
Gain (loss) in other comprehensive income (loss) before reclassifications             (25)  
(Gain) loss reclassified from accumulated other comprehensive income (loss)             9  
Other comprehensive income (loss)             (16)  
Balance at end of period $ (85)           $ (85)  
v3.23.3
NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Decrease (increase) in operating assets:    
Trade and other receivables  $ 291 $ 133
Inventories, stockpiles and ore on leach pads  (263) (148)
Other assets  45 (176)
Increase (decrease) in operating liabilities:    
Accounts payable 11 52
Reclamation and remediation liabilities  (191) (170)
Accrued tax liabilities (152) (307)
Other accrued liabilities (83) (196)
Net change in operating assets and liabilities $ (342) $ (812)
v3.23.3
COMMITMENTS AND CONTINGENCIES - Environmental Matters (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2023
USD ($)
plant
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Loss contingencies        
Number of operational water treatment plants | plant 5      
Number of water treatment plants to be constructed | plant 2      
Remediation liability $ 396 $ 373 $ 320 $ 344
CC&V        
Loss contingencies        
Remediation liability   $ 20    
Midnite mine and Dawn mill sites        
Loss contingencies        
Remediation liability $ 212      
Remediation liability assumed (in percent) 100.00%      
Minera Yanacocha        
Loss contingencies        
Noncontrolling interest, ownership percentage by parent 100.00%      
CC&V        
Loss contingencies        
Noncontrolling interest, ownership percentage by parent 100.00%      
Dawn Mining Company        
Loss contingencies        
Noncontrolling interest, ownership percentage by parent 58.19%      
Goldcorp        
Loss contingencies        
Noncontrolling interest, ownership percentage by parent 100.00%      
v3.23.3
COMMITMENTS AND CONTINGENCIES - Other Legal Matters (Details)
$ in Millions
 1 Months Ended
Aug. 16, 2021
USD ($)
Dec. 24, 2018
plaintiff
Feb. 26, 2014
USD ($)
Sep. 24, 2012
USD ($)
Apr. 08, 2008
Aug. 31, 2020
USD ($)
Sep. 30, 2023
Sep. 30, 2007
Mining and mineral rights | Holt option                
Loss contingencies                
Purchase of option for mining and mineral rights           $ 75    
Pending Litigation | Labrador                
Loss contingencies                
Uranium mining moratorium term         3 years      
Kirkland Royalty Matter | Pending Litigation                
Loss contingencies                
Damages sought $ 350              
NWG New York Case | Pending Litigation                
Loss contingencies                
Damages sought       $ 750        
NWG Ontario Complaint | Pending Litigation                
Loss contingencies                
Damages sought     $ 1,200          
Ghana Parliament Cases                
Loss contingencies                
Number of plaintiffs | plaintiff   2            
Newmont Corporation, Newmont Canada Corporation, And Newmont Canada FN Holdings ULC                
Loss contingencies                
Noncontrolling interest, ownership percentage by parent             100.00%  
NewWest Gold | N W G Investments Inc                
Loss contingencies                
Noncontrolling interest, ownership percentage by parent               86.00%
N W G Investments Inc | Jacob Safra                
Loss contingencies                
Noncontrolling interest, ownership percentage by parent               100.00%
Aurora | Fronteer                
Loss contingencies                
Noncontrolling interest, ownership percentage by parent               47.00%
Newmont Ghana Gold Limited and Newmont Golden Ridge Limited                
Loss contingencies                
Noncontrolling interest, ownership percentage by parent             100.00%  
v3.23.3
COMMITMENTS AND CONTINGENCIES - Other Commitments and Contingences (Details) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Barrick Gold Corporation | Norte Abierto Project    
Other Commitments [Line Items]    
Deferred payments $ 98 $ 120